| | Retail Bulletin reports that according to figures released by Deloitte in its Consumer Tracker, the North of England, Scotland and Northern Ireland saw a sharp rise in consumer confidence in the second quarter of 2014.
While consumers in London and the South East were found to be the most confident, the North of England, Scotland and Northern Ireland saw consumer sentiment about household disposable income jump six percentage points from -25% in the first quarter of 2014 to -19% in in the second quarter.
Across the UK, overall consumer confidence in the second quarter was four points higher than the same period last year. Sentiment about disposable income was up 11 points.
Deloitte said consumers indicated that they were spending less on essential items, but spending more on discretionary items like clothing and footwear, which saw a nine point improvement in the quarter.
The figures also reveal that more consumers started a job and fewer reported a loss or reduction of income.
Looking forward to the third quarter of 2014, consumers indicated that they planned to spend more on non-essentials like electrical items, eating out and short breaks, as well as spending less on utilities. However, while economists forecast a rise in real earnings over the next year, the tracker shows that consumers are less optimistic. |