Consumer confidence at near two-year high as World Cup and UK holidaying lift summer spending
UK consumer confidence reached a two-year high in July, driven by increased spending during the men's football World Cup and a shift toward domestic holidays. Barclays data indicates that improved job security and a more stable political environment have encouraged discretionary spending.
Why it matters
This economic indicator suggests a potential recovery in consumer sentiment and retail activity within the UK market.
Pubs enjoyed a 10% increase in transactions ‘thanks to England’s World Cup run’, Barclays says. Pubs enjoyed a 10% increase in transactions ‘thanks to England’s World Cup run’, Barclays says. Consumer spending Consumer confidence at near two-year high as World Cup and UK holidaying lift summer spending Barclays says survey shows people feel more secure in jobs and have more leeway to spend on non-essentials
Prefer the Guardian on Google Consumer confidence hit its highest level in almost two years in July, according to research that indicated the closing stages of the men’s football World Cup and more people holidaying in the UK raised summer spending.
A truce in the Middle East conflict in June and the arrival of a new prime minister in No 10 also gave a lift to consumers after a long period of heightened uncertainty.
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