Tuesday, February 18, 2020

Consumer confidence sees biggest jump in 5 months


Consumer confidence has seen the sharpest growth since August, jumping two points in January according to new figures.

New data from the YouGov and Cebr Consumer Confidence Index revealed that January saw the biggest month-on-month increase in five months, with the index reach its highest point since September.

Despite the positive jump, YouGov remain cautious, stating it remained well below pre-Brexit levels.

READ MORE: 2016 ends with mixed sentiments in consumer confidence

Consumers were most confident about house values and expected good business activity over the coming year.

“Inflation is picking up and the rising cost of living could start to erode consumer confidence, particularly if pay growth stays subdued,” Cebr director Scott Corfe said.

Head of YouGov reports Stephen Harmston added: “While the improvement in confidence is good news for the economy and reflects a resilience, when it comes to the consumer impact of Brexit we are still very much in the early stages.

“However, at the moment, things look good.”

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