GfK’s long-running Consumer Confidence Index rose two points to -10 in August, rebounding from a score of -12 reported in July that matched 2016’s post-Brexit low; the index measuring changes in ‘personal financial situation over the last 12 months’ registered the biggest rise.

Joe Staton, Head of Market Dynamics at GfK, explains: ‘These figures must be seen against the backdrop of better news on inflation, public finances, jobs and growth prospects as the UK economy displays some signs of stability after a volatile start to the year.’

Yet he cautions ‘the Index has a lot of ground to regain to get back to black. So is this month’s rise significant? Or could we simply be witnessing a dead-cat-bounce over the dog-days of summer?’

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