Consumer confidence is at its highest level for 13 years, according to the latest research from the polling organisation, Gfk.
As inflations begins to fall and spending power increases, the firm reports that all five of its measures of consumer confidence have picked up in the past month.
Of the cross section polled, the majority said that they were more positive about their own personal finances and the state of the economy than they were in February.
“At plus four, the index is the highest it has been for almost 13 years, and it has gone up a striking eight points in just three months,” said Nick Moon, Gfk’s managing director of social research.
Gfk’s records reveal that confidence had been gradually rising since hitting almost minus 40 percentage points in 2008.
The Guardian reports that it has taken time for falling unemployment and lower oil prices to show up in the views of consumers about their own finances, with a balance of minue two points saying their situation had improved over the past year.
This was a slight improvement on the minus three points recorded in February.
A majority of consumers now believe their personal finances will continue to improve over the next year, with the expectation that the economy will thrive.