The British Retail Consortium has announced that its consumer confidence level is at 75 – the highest it’s been for a year and a half.
Although these levels are weak compared to two or three years ago, the trade association says that this growth represents more people feeling secure about their jobs and financial future.
According to the research, 20 per cent of respondents now think that their job prospects will be good or excellent over the next year, and 31 per cent think that now is a good time to spend money on discretionary items.
“When we saw confidence pick up between April and June we felt there was a definite and tangible change in the mood of the nation, however, we were cautious as quite often when economies rise out of recession there can be false starts,” commented the director of the BRC, Stephen Robertson.
“This latest poll shows that the confidence of the nation continues to improve, though consumers remain very guarded and we are still a long way from the confidence levels we saw prior to the economic meltdown.”
The report also found that the items most likely to be affected by a continued reduction in consumer budgets were clothing, gas and electricity, takeaways and groceries.