British consumers are feeling more hopeful about their wallets. GfK’s latest Consumer Confidence Barometer rose to -13 in September, up one point from August and marking the highest level since August 2024.
What the numbers mean
The index, which tracks how households view the economy and their personal finances, remains in negative territory but is edging upward. The improvement follows a Reuters poll of economists that had predicted a drop to -16.
Key drivers
GfK noted that confidence in the economic outlook also hit its highest point since August 2024, while sentiment about personal finances reached an eight‑month high. Neil Bellamy, consumer insights director at GfK, warned that a deteriorating inflation outlook could soon weigh on households, saying, “While the headline score continues to improve, confidence is still firmly in negative territory. With inflation, energy and fuel prices rising, could we soon see consumer sentiment falter?”
Other surveys
Separate consumer confidence readings from YouGov/Cebr and LSEG/Ipsos this month also posted their strongest scores since February. In contrast, surveys from BRC/Opinium and S&P Global have shown declines in confidence.
Implications
Even as the index stays negative, the upward trend suggests resilience in the UK economy amid ongoing challenges such as high inflation and energy costs. Analysts will watch whether the positive momentum can be sustained in the months ahead.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
