UK consumer confidence in economy drops, but personal financial outlook and Major Purchase Index improve.

UK consumer confidence in the economy has dropped for the first time since February, according to GfK's Consumer Confidence Index. Despite this, personal financial outlook has improved with a three-point increase since July, reaching a plus six rating, and a nine-point rise compared to the previous year. The Major Purchase Index also registered a three-point rise since July, suggesting an increase in demand for big-ticket items. The Bank of England's interest rate cut and increased political stability are contributing to consumer confidence recovery.

August 22, 2024
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