UK consumer confidence strengthens in July amid 'paused' view on economy

Consumers taking a 'wait and see' approach

UK consumer confidence has improved by one point in July, boosted by major purchase intentions and an improvement in people's financial situations.

The overall score grew by one point from -14 in June to -13 in July, according to GfK's Consumer Confidence index. Joe Staton, client strategy director at GfK, said there was only "a subdued one-point improvement in the overall index score in July", mostly as a result of increases in two of the five measures. He noted that the "positive view" on personal finances, in particular, "is encouraging with July's score of -8," which was two points higher from the month prior and the strongest since January 2022. Cold UK summer dampens consumer spending in June Similarly, the major purc...