Consumer confidence has been at its highest since the late 1990s in June, as renewed optimism in both personal finances and the general economy paved the way for an increase in retail spend.
The UK’s Consumer Confidence Index increased by six points to seven last month, according to market research agency GfK, while all of the five measures used to calculate the Index saw increases during the month.
Joe Staton, head of market dynamics, said: “We’re seeing a dramatic uptick in confidence this month, a real post-election bounce that’s put a spring in the step of consumers across the UK.
“This renewed optimism could also translate into a busy time for retailers.”
He added the number of shoppers who said that now is a good time to buy big-ticket items was up by 14 points to 16 during June, compared to -2 during the same period last year.