2023-04-21 00:54:25 ET
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The GfK Consumer Confidence indicator in the United Kingdom rose to -30 in April 2023 from -36 in March, hitting its highest level since February 2022 and exceeding market expectations for a reading of -35, as Britons took a more positive view of their finances and the health of the wider economy.
- UK consumer confidence continued to recover in April, climbing to its highest level since Russia launched its invasion of Ukraine in February 2022, according to data on Friday.
- Still, April’s figure remained well below zero, indicating an overall decline in confidence as the cost of living crisis and rising interest rates continued to weigh heavily.
- Joe Staton, client strategy director at GfK, said there had been a “sudden flowering of optimism” among households.”
- He added: “The brighter views on what the general economy has in store for us, could even be seen as the proverbial green shoots of recovery.”
- The UK economy is expected to avoid a recession this year, though double-digit inflation remains a top concern.
- ETFs: ( FXB ), ( EWU ), ( FKU ), ( EWUS ), ( HEWU ), ( FLGB ).
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UK consumer mood highest in over a year to -30 in April