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Consumer confidence recovers slightly

Consumer confidence rose during January, although it is not clear whether the rises signal “a temporary blip rather than a strong sign of recovery”.

The latest survey from research group GfK found British consumers were “bullish” in January, and its consumer confidence index lifted four points to -9.

Joe Staton, head of market dynamics at GfK, said: “Having survived Christmas, New Year, the January Sales and Blue Monday, bullish Brits report a more upbeat view of their financial prospects for 2018 this month.”

However, he warned the index remained below its -5 reading at the same time last year, so “in the absence of good news about rising wages and declining inflationary pressures, this off-trend number could be a temporary blip rather than a strong sign of recovery”.

“With 2018 still in its infancy, and with a great deal of uncertainty in store, there could be more turbulence in the consumer mood this year and next,” he adds.

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