Shopping Is The Best Therapy: Consumer Confidence High Despite General Election
UK consumer confidence has hit high a four month high despite the political and economic uncertainty caused by the general election – according to a report by GfK. The survey of 2,000 people between 1 May and 15 May has revealed consumer morale has risen to -5 from -7, despite some predictions it would fall to as low as -8. Despite the optimism however, it’s suggested that most of the negative effects of last year’s vote to leave the European Union, such as a weakened pound and high energy costs, have yet to filter through to a majority of households. Furthermore, another report from Lloyds Bank has suggested that small businesses are a lot less optimistic than their customers, with business confidence falling sharply in May to below its long run average – despite hitting a 17-month ... »