UK consumer confidence is the best since March 2021
After an unexpected drop in January, British consumer confidence rebounded to its best level in nearly two years.
Phil Noble/Reuters
British consumer confidence improved more than expected in February, although the impact of higher inflation – the worst in four decades – and higher interest rates were still felt.
Research firm GfK reported on Friday that a measure of consumer confidence rose to -38 points in February, compared to -45 points in January, the highest value since March 2021.
The rise made up for a dip in January, when British consumer confidence fell unexpectedly, ending a streak of three consecutive monthly increases at the end of last year.
GfK said: “Consumers have suddenly shown more optimism about the state of their personal finances and the general economic situation this year. But it is too early to talk about recovery.”
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