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Uptick in consumer confidence as economy stabilises

Consumer confidence in the UK has improved slightly in August compared to the previous month’s one-year low.

Market research firm GfK’s household sentiment index increased by two points to minus 10 this month.

It marks a rebound from the post-Brexit low seen in July, according to GfK.

However, GfK said it was unclear whether August’s rise was significant or just a “dead-cat bounce”.

Joe Staton, head of market dynamics at GfK, said: “We’re seeing an uptick in August among consumers when reviewing their personal financial situation for both the past and next 12 months, as well as a slight improvement in views about the general economic situation of the country as a whole.

“These figures must be seen against the backdrop of better news on inflation, public finances, jobs and growth prospects as the UK economy displays some signs of stability after a volatile start to the year. However, the index has a lot of ground to regain to get back to black.”

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