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Consumers are ready to splash out on big-ticket bulky goods such as furniture after a big improvement in sentiment between July and August, according to new consumer confidence data.

 

Figures from GfK, the consultancy behind the monthly Consumer Confidence Index, show its Major Purchase Index score swung from -2 in July to +6 in August.


"Consumers are no doubt aware of the incessant Brexit noise," said GfK client strategy director Joe Staton, who added "but are consumers putting their hands over their ears and quietly saying: let’s just wait and see?"


The overall Consumer Confidence Index score improved to -7, from -10 in July — meaning it has been negative for 31 straight months. However, it remains nowhere near the depths reached (-39) during the 2008 financial crisis.


Mr Staton added that "Armageddon seems a distant prospect" and questioned whether consumers have "developed an immunity to the Brexit babble?"



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