|
Consumer sentiment in the UK improved a little in August, though remained negative, survey results published by S&P Global showed Monday. The S&P Global UK consumer sentiment index advanced to 47.0 points in August from 45.1 points in July. Getting closer to the neutral 50-point mark, it indicates less deterioration in consumer sentiment. It was the highest figure since last October’s UK government budget announcement, meaning a 10-month high. Maryam Baluch, economist at S&P Global Market Intelligence, said: ‘August CSI data comes hot on the heels of the recent rate cut decision made by the Bank of England earlier in the month. Data collection began just a day after the central bank’s announcement, providing a timely snapshot of sentiment in the wake of monetary policy easing. ‘Encouragingly, the data reveals a slight revival in household confidence, which is a telling sign that the easing of monetary policy has been received positively by households across the country. The headline index signalled the strongest reading since last October, greatly bolstered by robust perceptions of labour market conditions, which were the second- strongest in the survey’s history.’ The household finance index recorded 46.0 points in August against 43.6 points in July, while the spending sentiment index rose to 41.2 points from 27.7 points. Households also reported a growing sense of security in their employment, with sentiment the highest in almost a year. The labour market sentiment index edged up to 54.7 points from 52.4 points. Following the Bank of England’s rate cut in early August, households across the UK were less expectant of tighter monetary policy in the months to come. A net balance of 7% of households expect a rate hike, down from 17% in July. The survey is based on monthly responses from approximately 1,500 individuals in the UK, with data collected by Ipsos MORI from its panel of respondents aged 18-64. The responses were collected between August 7 and 11. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
