UK Consumer Confidence Hits 6-Month High

The UK GfK Consumer Confidence Index rose to -17 in July 2026 from -23 in June, marking the highest level since January and the largest monthly improvement since November 2023. The latest figure was well above market expectations of -21, driven by optimism surrounding Andy Burnham’s appointment as prime minister, hopes for easing Middle East tensions at the start of the month, and a boost from the summer weather and the FIFA World Cup. Households’ assessment of the economy over the past year improved by 10 points to -39, the strongest reading since late 2024, while expectations for the next 12 months climbed 8 points to -28, the highest since October 2024. Intentions to make major purchases also increased by 8 points to -12, the strongest level this year. However, the survey was conducted before the renewed escalation in the Middle East, while GfK warned that sustaining the “Burnham bounce” will depend on the new government delivering on cost-of-living and economic growth challenges.




