Proactive Investors - Consumer confidence has improved to its best level since November 2021 in June as the impact of easing inflation and less pressure on household spending begins to be felt.
GfK’s consumer confidence index increased by three points in June, reaching -14 from -17 in May and beating consensus which predicted it to fall to -15.
The rise is attributed to an improvement in confidence regarding the general economic situation over the past 12 months and an increase in expectations for the economy over the coming year.
Joe Staton at GfK, said: "While June's reading of -14 is the third month in a row that confidence has increased, the headline score remains negative owing to the difficulties so many have experienced as the unrelenting cost-of-living crisis batters household budgets.
“Nevertheless, consumer confidence continues its robust long-term upward trend this month, and has recovered significantly since the record low of minus 49 reached in September 2022.
“Consumers like financial certainty, and this has to be the cornerstone if we are to see confidence break out into positive territory.”