Consumer confidence is at its highest level since the late 1990s, according to the latest results from research company GFK.
The company has cited an increase in confidence of six points to +7 in June this year on its UK Consumer Confidence Index.
According to head of marketing dynamics at GFK, Joe Staton, the rise takes the overall index scores to levels “not seen since the late nineties or early days of the noughties.”
The Index has revealed that consumers are also feeling confident about making major purchases, such as electricals and furniture, while the number of shoppers who agreed that “now is a good time for people to make major purchases” jumped 14 points.
Crucially, the report suggests that financial optimism for both consumers and the general economy registered at higher levels than previously seen, in what Staton described as a “post-election bounce.”
“Not everyone agrees with the outcome of the election, but it represents a period of stability and a clear plan going forward,” he said.
“It is also a time when people recalibrate and look at their own finances as well as the general economy.”