Confidence on the rise

OPTIMISM OVER the future of the UK's economy is on the rise again, allaying fears over consumer confidence, according to the latest report by GfK today. The GfK consumer confidence barometer, which surveys individuals' attitudes to both the general economy and their own household prospects, found 27 per cent expected the situation to improve over the next year, an improvement of 4 per cent on July.

Consumers also appear increasingly reluctant to spend, with the number of respondents who agreed that it was now a good time to make major purchases such as furniture, washing machines and TV sets, falling for the third month, to just 28 per cent. However, the measure tracking saving intentions also fell, to its lowest level since December 1996.