UK consumer confidence and retail sales receive late summer boost

Winter likely to bring economic challenges

Both UK consumer confidence and retail sales improved on the previous month as shoppers embarked on late summer spending.

Consumer confidence rose to -21 in September 2023, up from -25 in August, a further step up from July's -30 drop, according to data from research group GfK. GfK's survey was carried out ahead of the latest inflation figures and the Bank of England's subsequent decision to hold interest rates. Separately, the Office for National Statistics reported a rebound in retail sales for August, up 0.4%, turning positive on a revised fall of 1.1% in July. 'A tough call': Bank of England dovish move signals 'higher for longer' rates policy Myron Jobson, senior personal finance analyst inter...