UK consumer confidence back at January 2000 high
Bolstered by rising house price inflation and improved employment prospects, UK consumers now believe the economic recovery is for real, according to the results of a widely followed survey.
The GfK consumer confidence index for August increased by three points to a reading of 7, its best reading since June, which was in turn its highest since January 2000.
Economists had been expecting a print of 4.
A subindex measuring consumers´ forecast for their personal finances over the following twelve months rose by one point to 7, two points higher than in August 2014.
Nevertheless, while the gauge tracking expectations for the general economic situation in the UK over the next twelve months jumped by four points to a reading of 3, that was eight points less than this time last year.
The Major Purchase Index jumped by six points to 17, to stand 18 points higher than in August 2014.