Having reached its lowest ever level in October, consumer optimism rebounded in November according to the latest edition of The Optimism Index.
November’s survey of GB adults found that the optimism index has risen to 51/100 – up 5 points since October and reaching its highest level since July. Concerns over household financial situations and with the national economic situation remain – 30% of adults anticipate their personal finances to be worse in 2019 than they are now – but outlooks have improved.
Following a touted ‘end of austerity’ detailed in Phillip Hammond’s third budget and the highest levels of pay growth since 2009, net confidence in household financial situations has increased from -19% to -13%, while net confidence in the national economic situation has increased from -28% to -22%.
However, consumers sound a cautionary note in this month’s data. The mood has improved on October but concerns about future prosperity remain.
- Optimism amongst GB adults recovers following ‘end of austerity’ announcement
- Recessionary mood persists, although financial and economic confidence improves
- Consumers pause belt-tightening for time being, but spending remains low
The Optimism Index is produced each month, based on a survey of 2,000 adults in Great Britain.
The full report is available to subscribers of Signal.