Consumer confidence ticked up again in June, with people feeling slightly less pessimistic about both the economy and their personal finances.
According to BRC-Opinium data, consumer expectations over the next three months show the state of the economy improved to -43 in June, up from -48 in May.
Their personal financial situation improved to -15 in June, up from -16 in May. Their personal spending on retail fell to +5 in June, down from +7 in May.
Their personal spending overall rose to +16 in June, up from +15 in May. Their personal saving fell to -9 in June, down from -8 in May.
Within the categories, consumer expectations over the same period for spending on home and garden furniture are down -12, widening from -8 the previous month, while DIY and home improvements were down at -3, also widening from -1 last month.
Helen Dickinson, Chief Executive of the British Retail Consortium, said: “Although retail spending intentions dipped, this is likely due to lower inflation expectations, rather than weakening demand. It’s all to play for as fast moving events in the Middle East and at home could shake consumer confidence or allow the improvements to gain momentum next month .
“Job prospects remain crucial. The loss of 66,000 retail jobs over the last year will do little to keep confidence moving in the right direction, particularly for young people and others struggling to take their first steps on the career ladder. Government policies that increase the costs and complexity of employing people, particularly the young, risk undermining both employment prospects and the recovery in consumer confidence.”
