Consumer confidence has risen three points in November, as the public moves on from the “potentially worrying impact” of the Budget and Trump’s election in the US.
The overall index score rose three points to -18, and all measures were up month-on-month according to the latest GfK consumer confidence survey.
Personal financial situation rose one point to -9 in the month, while personal financial situation over the next year also jumped one point to -1.
On the general economic situation over the last year, consumer sentiment improved three points to -39. Looking ahead to the next year, consumer sentiment jumped two points to -26.
The major purchase index jumped five points to -16.
Consumer insights director at GfK Neil Bellamy said: “Consumer confidence has improved by three points in November to reach -18. There was evidence of nervousness in recent months as consumers contemplated the potentially worrying impact of the UK Budget at home, and even the implications of the US presidential election. But we have moved past those events now.
“The biggest change this month is in major purchase intentions, an important measure that has jumped five points from -16 to -21 in the run-up to Black Friday next week. The other four measures, covering personal financial expectations and the wider economy, have registered small increases too. But while 2025 is just around the corner and the New Year often brings optimism, it’s too early to expect significant further improvements in the consumer mood.
“As recent data shows, inflation has yet to be tamed, people are still feeling acute cost-of-living pressures, and it will take time for the UK’s new government to deliver on its promise of change.”
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