Anticipation for General Election improved UK consumer confidence

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Anticipation for General Election improved UK consumer confidence
UK consumer and business confidence saw a boost in the run up to the General Election.
// Consumer confidence rose from -14 in November to -11 in December
// Consumer and business confidence saw a boost as the nation awaited the December General Election

UK consumer and business confidence saw a boost in the run up to the General Election according to market research firm Gfk and Lloyds Bank.

Their results found confidence was boosted to the highest rates in five months in the run up to Prime Minister Boris Johnson’s election win last week.


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However, the figures still sit in the minus territory, with consumer confidence rising to -11 in December from -14 in November.

A Lloyds Bank gauge of business confidence also rose to its highest level since July at 10 per cent, up a point from last month.

“Despite official warning signs about the flatlining of Britain’s economy, we know that record-high employment and below-target levels of inflation are helping to boost consumers’ expectations for the year ahead,” said GfK client strategy director Joe Staton.

“There is now clarity over the UK’s departure from the EU, but the focus will turn to whether a new trade agreement can be negotiated during the transition period which currently runs until the end of next year,” added Lloyds senior economic Hann-Ju Ho.

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