British consumer morale soars but gloom over finances lifts

British consumer morale soars but gloom over finances lifts

In August, UK consumer morale edged up moderately, although stood subdued because households turned to be gloomier as for their finances, according to a poll published on Friday.

As a matter of fact, the monthly consumer confidence index from pollster YouGov as well as consultancy Cebr went up to 107.6 from July’s outcome of 107.2, backed by a soar in its measures of job security and also house prices.

However, consumers' perception of household finances definitely worsened for a fifth month in a row. That’s the longest run since YouGov records bust out 8 years ago.

In June 2016, the Brexit vote provoked a huge dip in the value of the British pound that has powered inflation, also affecting consumers' disposable income in 2017.

By the way, this year other measures of consumer confidence have declined too.

While the BoE actually expects trade as well as business investment to mostly withstand the slowdown in consumer confidence, evidently neither of these things added to the UK’s economic surge during the second quarter.

 

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