UK Consumer Confidence Rallies In November

The survey of 2,000 consumers between 1 November and 14 November mostly reversed the sharp drop witnessed in October, which saw the heaviest fall since the coronavirus pandemic began.

While all five components of the index rose throughout November, they all remain in negative territory, and have not recovered from the surge in inflation over the past two years.

The major purchase index saw the largest jump throughout the month, rising ten points to -24, its largest jump since June 2020, while the view of the general economic situation over the next 12 months rose by six points.

UK retail sales slump 0.3% in October

However, there remained a strong mismatch between consumer views of their personal finance situation and the general economic situation over the next year, rating them -3 and -26, respectively.

The "dramatic" recovery "will be good news for retailers looking to benefit from Black Friday and Christmas," said Joe Staton, client strategy director at GfK.

"Despite the acute cost-of-living pressures, many would still like to loosen their purse strings just a little so they can enjoy that feel-good factor we all associate with the festive season," he added.

RECENT NEWS

What A Rising VIX Means For Pension Funds

Wall Street’s latest selloff has moved beyond a technology-sector wobble and become a broad market event. The Nasdaq C... Read more

Behaviour Cannot Fix A Portfolio Construction Flaw

A Retiree Shouldn't Be Asked to Behave Their Way Out of a Portfolio Construction Problem Why behavioural coaching shoul... Read more

Behavioural & Retirement Portfolio Resilience

Behavioural Survivability and Retirement Portfolio Resilience Why the lived experience of market recovery matters as mu... Read more

Australia's Rate Rise Bites: Highest In 15 Years

The Reserve Bank of Australia has lifted interest rates to their highest level since 2011, and its governor admits the w... Read more

October Retirement Portfolio Resilience Assessment

Markets stabl Read more

Gyrostat September Retirement Portfolio Resilience Assessment

September Retirement Portfolio Resilience Assessment Markets have fallen. The price of risk has risen. ... Read more