British consumers becoming more upbeat on their finances

Chris Papadopoullos
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"Consumers remain in good spirits" (Source: Getty)
UK shoppers felt more confident about their finances in June, according to a survey by a major British bank.

Lloyds Bank’s spending power index climbed to a record high of 164 points from 160 in May, it said this morning. The survey has been running since 2011.

People were more confident about their personal financial situation and household financial situation, the survey found. There was also an increase in the proportion of people with disposable income.

“Consumers remain in good spirits, with sentiment buoyed by a combination of strengthening wage growth and muted price pressures,” said Lloyds Bank chief economist Patrick Foley.

“And with uncertainty in the international environment ebbing a little, the economic backdrop looks conducive to a pickup in the pace of the UK’s recovery through the second half of the year.”

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