Uk consumer optimism to hold steady until May’s election

Uk consumer confidence has turned more upbeat in February due to sharp pay growth and slumping inflation following a slip in December.

The British consumer finance is said to have reached 4-month high and also to hold the highest record since September 2014.

Nevertheless, according to a survey compiled by YovGov,nine of ten respondents confirmed that they do not feel a significant change in regards to this financial recovery, highlighting the impacts during 2008-2009 crisis period.

In February, the Gfk’s consumer confidence index showed +1 which match with January’s reading while economists had expected a reading of +2.

With less than 100 days before the election, Uk’s Prime Minister, David Cameron hopes that the rising consumer confidence shall persuade people to vote for the Conservative party for it to retain power.

The managing director of social research at Gfk, Nick Moon, said that the consumer confidence is expected to rise more from now to election date unless a dramatic change occurs.

The Gfk survey's measure of confidence about personal finances suggests that in the next 12 months consumer finance is bound to rise to its highest since May 2014.

Also, official data released on Thursday, highlights a 5% increase in the Britain’s economy for the last three months of 2015.However, there have been majors signs that clearly showed a strong start for this year.

Priscilla Camryn By: Priscilla Camryn
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