Uk consumer confidence rose in February to -38 from -45 in January | Forexlive

Deeply pessimistic consumer sentiment in the UK has been persistent. The latest GfK survey in at -38.

• Expected -43, prior -45
• up 7 points ion a month, the best increase in 2 year
• In September 2022 it hit -49, its record low

The report from Reuters adds:

• Linda Ellett, UK head of consumer markets at KPMG, said consumers were turning to savings and debt as higher prices squeezed household budgets. “Nearly half of consumers surveyed by KPMG say they are using savings to help meet their higher essential costs, whilst one in 10 are using credit more,” Ellett said.

GBp update: