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U.K. Consumer Squeeze Yet to 'Hit Home' as Confidence Rises

  • GfK’s confidence index rises to -5 in May from -7 in April
  • Rising inflation, sluggish wages expected to damp spending

British consumers have yet to feel the full impact of rising living costs, according to GfK.

A consumer-confidence index increased to a four-month high of minus 5 in May from minus 7 in April, the market-research firm said Wednesday. Its survey of 2,000 people found they had more confidence in their personal financial situation over the coming year and a greater willingness to make major purchases, though their opinion of the general economic outlook was unchanged.