Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Cost of living support gives consumer confidence a lift

by August 10, 2022
August 10, 2022
Cost of living support gives consumer confidence a lift

Consumer confidence rose in July as low-income households received cost of living payments from the government’s support package.

A two-point increase was the first rise since November 2021 on the index compiled by YouGov and the Centre for Economics and Business Research. Consumer confidence had fallen by nine points in the seven months to July.

The biggest rise was in participants’ perceptions of household finances. Their view of their personal finances over the past month rose by 5.3 points to 60.3 and their expected outlook for the next year rose by 3.1 points to 51.8.

Around eight million households on means-tested benefits received £326 at the end of July. A second payment will be made in the autumn. The £21 billion cost of living package announced in the spring included a £400 discount on energy bills and an extra £650 for the poorest families. However, the overall outlook for finances remained weak.

Job security expectations edged even higher, up by 1.3 points to 93.7, with job vacancies still at a record high. The outlook for business activity rose as participants said workplaces were busier.

“The strongest upward momentum in July came from the backward and forward-looking household finance indicators,” said Kay Neufeld, head of forecasting at CEBR. “Nevertheless, the increases in these measures are from an extremely low base and the outlook remains challenging.

“Questions remain regarding the type of support households can expect over the coming months, with the energy price cap set to rise to new record highs in October and January.”

She added that the rise in consumer confidence may be short-lived if a recession materialises this year.

Read more:
Cost of living support gives consumer confidence a lift

0
FacebookTwitterGoogle +Pinterest
previous post
Sector Spotlight: Sectors Kissing Resistance
next post
Supply issues drive down used car sales

You may also like

Getting To Know You: Zoë Scorer, MD, Conscious...

July 23, 2024

Higher costs trigger rise in insolvencies

November 16, 2022

Mid-sized firms set their sights on growth, planning...

July 22, 2024

Biggest rail strike of the year set to...

September 29, 2022

Education Secretary Challenges Big Firms’ Plea Over Apprentice...

March 19, 2024

Cancelling non doms tax system could be disastrous...

March 6, 2024

Truvid Leads North American Adtech Space with Soaring...

September 29, 2022

Made in Britain: Male grooming brand, Baldape

August 25, 2022

Pink Floyd sells catalogue to Sony Music for...

October 4, 2024

An In-Depth Interview with Dr. Sergey Macheret: Exploring...

January 23, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved