UK Consumer Confidence Hits 21-Month High as Card Spending Rises 2% in July
Updated
Updated · The Guardian · Aug 11
UK Consumer Confidence Hits 21-Month High as Card Spending Rises 2% in July
3 articles · Updated · The Guardian · Aug 11
Summary
30% of surveyed Britons said they felt confident about the UK economy in July, up 6 percentage points from June and the highest reading in 21 months, Barclays said.
2% year-on-year growth in card spending reflected a World Cup boost, more domestic holidays, and lower uncertainty after a June Middle East truce and the arrival of Prime Minister Andy Burnham.
10% higher pub transactions led the gains thanks to England’s World Cup run, while discretionary spending rose 1.6% and UK accommodation and cinema spending each climbed 2.6%.
3.8% growth in food sales and stronger clothing demand did not extend to big-ticket goods, with the BRC saying shoppers favored smaller treats over furniture and computers.
50.0 on the REC permanent placements balance in July—the first expansion reading since September 2022—suggested improving hiring sentiment, though economists warned the July return of Middle East hostilities could dent confidence again.