High street morale surges

 
Julian Harris
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MORALE on the British high street took a huge leap in May, recording the second sharpest rise of all time, the GfK NOP consumer confidence index revealed today.

People reported a boost to their confidence over personal finances and the general economic outlook.

The last time the headline index accelerated this fast was in May 1993.

“But before the businesses celebrate, it should be pointed out that we are improving from a rock bottom position and consumer confidence is still deeply in the negative,” warned Nick Moon of GfK NOP Social Research.

The headline index jumped 10 points to a score of -21, yet remains lower than at the same time last year, when it measured -18 points.

The sub-index for sentiment in the general economic outlook spiked upwards, to -15 from -30 in March.