UK Consumer Confidence Rebounds After Softer Inflation Signs
- GfK says households optimistic about their own finances
- Figures contrast with gloomy official data on retail sales
The figures mark a strong contrast with a sharp drop in retail sales in July, with industry surveys showing that decline is likely to continue.
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UK consumer confidence rebounded in August as inflation showed signs of cooling and strong wage growth buoyed household finances.
The market research company GfK said its reading of sentiment rose 5 points to minus 25 this month, recouping almost all of the downturn in July. Consumers’ outlook for their own finances in the next year is now 28 points higher than a year ago.