UK consumer confidence rises this month

Consumer confidence in Britain rose unexpectedly this month, after the budget presentation cleared up uncertainty over the country’s new Labour government’s tax and spending plans.

GfK, a leading economic think tank, said its consumer confidence index rose three points to minus 18, as households grew more optimistic about their own finances and the country’s overall economic outlook.

“There have been signs of anxiety in recent months as consumers have been monitoring the troubling effects of the budget at home and the fallout from the U.S. presidential election,” Neil Bellamy, director of consumer insights at GfK, told Bloomberg.