UK consumer confidence is the best since March 2021
After an unexpected drop in January, British consumer confidence rebounded to its best level in nearly two years.
British consumer confidence improved more than expected in February, although the impact of higher inflation – the worst in four decades – and higher interest rates were still felt.
Research firm GfK reported on Friday that a measure of consumer confidence rose to -38 points in February, compared to -45 points in January, the highest value since March 2021.
The rise made up for a dip in January, when British consumer confidence fell unexpectedly, ending a streak of three consecutive monthly increases at the end of last year.
GfK said: “Consumers have suddenly shown more optimism about the state of their personal finances and the general economic situation this year. But it is too early to talk about recovery.”
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