Consumer confidence in spending bounces back.
According to the latest Consumer Tracker from Deloitte, UK consumer confidence bounced-back to a record high in Q3 2015. The survey, which is conducted quarterly, revealed that consumers have shrugged off the turmoil seen in the global financial markets during this period. All six measures of confidence in the Consumer Tracker were up from the previous quarter, with the biggest gains seen in relation to consumer’ level of debt, job opportunities and career progression. Those living in London and the South East also recorded a recovery in consumer confidence, following a fall in the previous quarter amid concerns about the weakness of the property market and the affordability of housing. Chief economist at Deloitte Ian Stewart said: “UK consumers seem unperturbed by financial market and emerging economy weakness that have dampened sentiment in the corporate sector. For consumers the good news on the rising real wages and improving job security trump the bad news from the global economy”.
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