| | Retail Bulletin reports that new figures from the GfK Consumer Confidence Index have shown that consumer confidence has increased in August as UK shoppers' motivation to save collapses.
The long running Index has risen by five points in August to -7 after dropping by the fastest rate in 26 years in July following the Brexit vote.
Joe Staton, head of market dynamics at GfK, said: "We're reporting some recovery in the index this month as consumers settle into the new wait-and-see reality of a post-Brexit, pre-exit UK. The uptick in confidence is driven by good news from hard data, the combination of historic low interest rates matched with falling prices and high levels of employment."
While the indexes relating to the forecast for personal finances, climate for major purchases and the general economy over the next 12 months have all risen, there has been a 16 point fall in the savings index, which has declined from 1 to -15 this month. This is 17 points lower than August 2015. |