UK consumer confidence hits more than two-year high in September: GfK

BRITISH consumer confidence unexpectedly struck a more than two-year high this month as households grew more optimistic about their personal finances, according to a survey on Friday (Sep 25) that added to recent signs of resilience in the economy.

Market research firm GfK’s Consumer Confidence Barometer rose to -13 in September, up one point from last month and marking its highest level since August 2024, shortly after the governing Labour Party came to power.

A Reuters poll of economists had pointed to a fall to -16.

GfK said consumers’ confidence in the economic outlook also rose to its highest level since August 2024, while the mood around personal finances hit an eight-month high.

Neil Bellamy, consumer insights director at GfK, said the deteriorating inflation outlook could start to weigh on households.

“While the headline score continues to improve, confidence is still firmly in negative territory. With inflation, energy and fuel prices rising, could we soon see consumer sentiment falter?” he said

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Separate consumer confidence readings from YouGov/Cebr and LSEG/Ipsos published this month hit their highest readings since February.

Surveys from BRC/Opinium and S&P Global have shown a fall in consumer confidence. REUTERS