Saturday 25 January 2020

Consumer confidence hits seven-year high

Consumer confidence
Consumer confidence
Charlie Weston

Charlie Weston

CONSUMER confidence has hit a seven-year high.

But at a household level families are still feeling under financial pressure and are not seeing any improvement in their budgets.

Strong economic growth figures and hopes of a less severe Budget this autumn have driven the consumer confidence index to a level last seen in 2007, before the economy crashed.

The index is now at 89.4, up from 81.1 in June, according to latest KBC Bank/Economic and Social Research Institute research.

The bounce in consumer confidence has reversed large losses in May.

However, when researchers drilled down to a household level they found that families feel their personal finances will remain under pressure this year.

Around half of households expect their household finances to weaken this year.


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