UK consumer confidence hits more than two-year high in September, GfK says
British consumer confidence surged to a two-year high in September, according to GfK’s Consumer Confidence Barometer, with households displaying greater optimism about their financial situations, the research firm reported on Friday. The index reached -13 in September, up one point from August and a significant improvement since August 2024. GfK noted that consumer confidence in the economic outlook also hit its highest level since August 2024, while personal finances' mood hit an eight-month peak.
Neil Bellamy, GfK's consumer insights director, pointed out that the deteriorating inflation outlook might start to negatively impact households. Despite the headline score improving, consumer confidence remains firmly in negative territory, raising concerns about whether the recent gains could falter as inflation, energy, and fuel prices continue to rise.
Other consumer confidence surveys published this month, including those from YouGov/Cebr, LSEG/Ipsos, BRC/Opinium, and S&P Global, also recorded their highest readings since February, further indicating a resilient economy.
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