UK May consumer confidence hits highest level in a year, YouGov/CEBR poll finds
British consumer confidence hit its highest level in a year in May, with more households expecting their financial situations to improve over the next 12 months, according to a survey by YouGov and the Centre for Economics and Business Research (CEBR).
The poll noted that the consumer confidence index rose to 115.1 in May from 113.6 in April.
The survey, which was taken after the Conservative election win, showed that 26% of respondents think their situations will get better over the next year – the highest level since March 2010. 24% think they will deteriorate, making the lowest level on record.
Scott Corfe, associate director at the Centre for Economics and Business Research said: “After a fall in consumer confidence last autumn there has been a steady improvement in the public’s economic optimism. This rally is set against a backdrop of improving employment figures, ‘good’ deflation and increasing wages.”
“Although the latest gross domestic product figures were softer than expected, it seems likely they will be revised up giving an overall economic picture that is relatively buoyant,” he added.