UK consumer confidence hits two-year high as disposable income rises

Deloitte Consumer Tracker

UK consumer confidence has increased for a sixth consecutive quarter to its highest rate since the third quarter of 2021.

According to the Deloitte Consumer Tracker, the 0.5 percentage point increase, although marginal, has been led by positive sentiment towards household disposable income – up 18.2 pp on the first quarter of 2023. As a result, consumer confidence has risen 6.5pp year-on-year which, alongside a 5.2pp increase in confidence towards debt levels, has created a much more positive picture for consumers' personal finances, the study concluded. Deloitte said "young people appear to be feeling more confident about disposable income especially", with the biggest quarterly improvement recorded for...