Personal finance confidence on the rise

Consumer confidence is at its highest in two years, according to market intelligence platform GfK’s Consumer Confidence Index.

Despite the cost-of-living crisis impacting personal finances and spending across the UK, the results indicate consumers have a positive outlook on their personal finances over the next twelve months.

Joe Staton, client strategy director at GfK, said the personal finance measure now stands at zero, having stayed in minus figures since 2022.

“This is exciting as it ends 24 consecutive months of negative scores for this measure and this significant change is the best single indicator for how the nation’s households feel about their income and expenditure.

“On balance, while there is national and global turmoil, the Consumer Confidence Index has started 2024 on a positive note – let’s see if this optimism continues,” said Staton.

Each month since January 1974, GfK has published its research on how UK consumers feel about their personal finances and the wider economy, as well as the outlook for the next 12 months.

This month’s survey was conducted among a sample of 2,000 individuals aged 16 and over.