Consumer confidence up to pre-Brexit vote levels

3 October 2016 - Janet Bird

shopping post brexit

Consumer confidence has bounced back to the levels it was at before Britain voted to leave the EU, new figures show.

Market and consumer information company GfK's regular consumer confidence report showed a rise across all measures during September, building upon the increases recorded in August.

The report is based on the responses given by a representative sample of the British public to questions about their personal financial situation and the general economic environment. Respondents are also asked whether they think this is a good time to make major purchases and to save money.

The latest report found confidence was up six points and now stands at -1 on the Index, having recovered from its plunge to -12 immediately post Brexit vote.

Consumers surveyed were increasingly optimistic about the state of their own finances and the general economic outlook, which rose three points to seven and 13 points to -9 respectively. Encouraged by wages rising faster than prices and low interest rates, they were also more likely to make major purchases.

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