Consumer sentiment has climbed to its strongest point in nearly two years, according to recent data from Barclays. The bank’s latest survey suggests that households are feeling increasingly secure in their employment, providing them with the financial flexibility to increase expenditure on non-essential goods.
Summer Boost and Political Factors
The uplift in confidence coincides with a surge in summer activity, attributed partly to the men’s football World Cup and an increase in domestic tourism within the UK. Additionally, the report notes that a temporary truce in the Middle East and the appointment of a new UK Prime Minister have helped alleviate the uncertainty that has weighed on consumers for an extended period.
Source: The Guardian