UK consumer confidence rises to Jan 2022 levels, driven by positive US GDP and lower inflation, despite ongoing financial strain.

UK consumer confidence has reached its highest level since January 2022, marking a strengthened optimism for Britain's economic prospects within the next 12 months. This improvement is attributed to better-than-expected US GDP figures and lower inflation rates. UK households' expectations of personal finances and the general economic situation have also seen gains, leading to increased confidence, though many households still face financial strain due to inflation, cost-of-living crises, and mortgage rate increases.

January 26, 2024
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