CONSUMER confidence hit its highest level since September 2014 this month, figures today show.
The consumer confidence index produced by YouGov and the Centre for Economic and Business Research ticked up to a score of 112.7 from January’s 111.3. Since 2007, the index has peaked at just over 115 and bottomed out at around 65, at the depths of the financial crisis.
The proportion of consumers who think their household finances have worsened over the past month is at its lowest level since YouGov began measuring it in 2009. In February, 17 per cent of households said their finances had deteriorated over the previous 30 days, down from January’s 20 per cent. However, only 10 per cent of households said their finances improved over the period.
“It has been a long time coming, but it looks like falling prices and rising incomes have started to seep through to people’s wallets,” said Stephen Harmston, head of YouGov Reports.