RE: Trading update26 Jan 2024 09:41
It doesn’t necessarily follow through into general retail, but it’s what Wickes, and others, have been investing in anticipation of, over time:-
UK consumer confidence reached a two-year high in January, according to research company GfK, in the latest positive sign for the economy.
The consumer confidence index, which measures people’s views of their finances as well as their view on broader economic prospects, rose three points month on month to minus 19, the highest level since January 2022.
This was the third consecutive month-on-month increase and followed the release of January’s purchasing manager index last week, which showed economic activity rising at the fastest pace in seven months.
Economists said the findings suggested that January’s cut in national insurance, falling mortgage rates and rising real wages were helping consumer sentiment despite the cost of living crisis still hurting household budgets.