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Consumer confidence rebounds from historic low

Consumer confidence rebounds from historic low

A survey by data company GfK shows that consumer confidence has unexpectedly bounced back from historic lows to hit the highest level since April 2022. GfK’s consumer confidence index has risen by seven points in February, although the headline score remains at a “severely depressed” -38. While confidence in the general economic situation over the next 12 months is up by 11 points to -43, confidence in personal finances increased by nine points to -18. The overall uptick follows the index falling three points to a near-historic low of -45 in January. Joe Staton, client strategy director at GfK, said: “While it’s too early to talk about ‘green shoots of recovery’, the uptick across all measures should be welcomed.” Linda Ellett, UK head of retail and leisure consumer markets for KPMG, commented: “Household budgets are squeezed by higher prices, with energy, broadband and mobile phone costs set to rise for many households in April. Despite the uptick in consumer confidence, levels remain low overall.”

Read more: The Independent

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