According to a new survey, UK shoppers are feeling more confident than they expected this month, as the relaxation of coronavirus rules has boosted their mood and spending intentions.
The UK consumer confidence index, a monthly measure of how people view the state of their personal finances and broader economic prospects, rose 2 points to minus 7 in July, research firm GfK said. said Friday. This kept the index above pre-pandemic levels, which rose last month.
The results, based on interviews in the first two weeks of July, were taken by the government’s decision to reopen the economy completely on 19 July. 28 in January.
Joe Staton, director of customer strategy at GfK, noted a “dramatic” jump this month in the index that follows people thinking this is a good time to make important purchases, which reflects “the gradual release of the high street in the UK and the release of pent- demand “when people return to shops, restaurants and other places.
Consumer views on personal finance have remained high, and together with rising spending intentions indicate a healthy recovery in spending in the UK.
Buyers ’mood improved even when consumers were aware of the risks to the economy. Expectations for the general economic situation for the year ahead are down 3 points compared to the previous month.
“Threats from rising consumer price inflation, Covid-19 variants and rising infection figures [and] the imminent end of the furlough and the Employment Retention Scheme, could put the brakes on this resurgence, ”Staton warned.