Consumer confidence rises but Brits “remain aware of challenges”

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consumer confidence Centre for Economics and Business Research covid-19 lockdown
The research also suggested a high level of negativity in the year ahead
// Consumer confidence has risen according to YouGov & Centre for Economics and Business Research
// Confidence rose 1.7 points to 100.8 in July while business activity continued to rise

New research has suggested that consumer confidence has improved as shoppers return to the high street post-lockdown, indicating some recovery in the economy.

Confidence rose 1.7 points to 100.8 in July while business activity continued to rise, according to research by YouGov and the Centre for Economics and Business Research (CEBR).

Reaching above 100 indicates that consumers are more optimistic than pessimistic.


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However, the research also suggested a high level of negativity in the year ahead, with 82 per cent expecting a recession within the coming 12 months.

At least 92 per cent now expect unemployment to rise over the next year.

“The shape of the recovery is slowly coalescing into a V, with the high street waking from its slumber. But there is still much to be wary of,” YouGov reputation research director Oliver Rowe said.

CEBR head of macroeconomics Kay Neufeld said: “The fact that 82 per cent of consumers expect the economy to be in recession within a year underlines that Britons are aware of the challenge still ahead of us.”

Last month, GfK’s long-running Consumer Confidence Barometer found that consumer confidence remained unchanged more than a month after lockdown restrictions were eased, with a score of -27 for July.

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