Consumer confidence rises to highest level in three years
Consumer confidence has reached its highest level in over three years, according to the latest Lloyds Bank Spending Power report.
The report, which surveyed more than 2,000 people across the UK, showed that consumer confidence had increased by six points in January to reach 129. Confidence in the economy saw the biggest increase, jumping 12 points in January.
The majority of people are confident about their current situation, with 57% saying their situation is excellent or good, and expect to be better off in six months’ time.
Despite confidence in personal finances increasing, respondents were still more inclined to save any extra disposable income, rather than spend it.
Philip Robinson, director of personal current accounts at Lloyds, said: “With consumer sentiment continuing its upward trend, together with the highest positive levels seen to date towards personal finances, 2014 continues to show signs of a more stable year.”
Do you feel confident about your finances for the coming year?
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