Shoppers More Optimistic as 'Burnham Bounce' Sees Biggest Confidence Boost Since 2023
UK consumer confidence rose six points in July, its largest monthly increase since November 2023, boosted by a new prime minister's optimism, good weather, and World Cup.
- UK consumer confidence rose six points to minus 17 in July, marking the largest monthly increase since November 2023, according to GfK data.
- Experts attribute this 'Burnham bounce' to summer heatwaves and the FIFA World Cup, though the index remains in negative territory despite optimism surrounding Prime Minister Andy Burnham's appointment.
- The Major Purchase Index jumped eight points to minus 12, while confidence in personal finances rose three points to plus one, with expectations for the general economic situation improving by eight points.
- To address living costs, Prime Minister Andy Burnham and Chancellor John Healey announced a cut to VAT on electricity bills, the return of the £2 bus fare cap, and plans to review the frozen £12,570 income tax personal allowance.
- Neil Bellamy, Consumer Insights Director at GfK, cautioned that sustainable growth requires consistent delivery, noting that while July delivered optimism, the headline score remains within a narrow range seen since late 2023.
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Basingstoke Gazette
Shoppers more optimistic as 'Burnham bounce' sees biggest confidence boost since 2023
Consumer confidence has recorded its biggest monthly jump since 2023, with experts pointing to the 'Burnham bounce', summer weather and…
Evening Standard
Consumer confidence sees six-point ‘Burnham bounce’
GfK said the ‘sense of a fresh start’ following Mr Burnham’s appointment ‘surely accounts for some of this bounce’.
New PM and early World Cup feel-good factor bolsters consumer confidence
According to BRC-Opinium data, consumer expectations over the next three months of the state of the economy improved to -37 in July, up from -43 in June. Additionally, expectations of: Their personal financial situation improved to -12 in July, up from -15 in June. Their… This story continues at New PM and early World Cup feel-good factor bolsters consumer confidence Or just read more coverage at Talking Retail
Burnham Bounce and World Cup Boost Consumer Confidence
UK consumer confidence recorded its strongest monthly improvement in almost three years in July, driven by a surge of optimism following Andy Burnham's rise to prime minister, England's World Cup run and favourable summer weather, shows the latest figures by GfK.The GfK consumer confidence index jumped to -17 from -23 in June, the highest level since January and the largest month-on-month increase since November 2023.While the uplift offers a po…
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