Consumer confidence across UK households improved this month amid a boost from easing inflation, according to new data.
UK consumer confidence improves
The S&P Global UK Consumer Sentiment Index (CSI) survey moved closer towards the 37-month high it struck in July after a post-election bounce.
The survey, which tracks consumer financial wellbeing, labour market conditions, household spending, saving and debt, recorded a reading of 47.3 for October.
It represented an increase from 46.0 in September.
Any reading above 50 is deemed to be positive, with a reading below that being in negative territory.
Although the latest figure therefore represents slightly negative broader sentiment, it is the second-highest reading in over three years and highlights an improvement among consumers.
The data were collected from a panel of 1,500 UK households between October 10 and 14.
S&P comment
Maryam Baluch, economist at S&P Global Market Intelligence, said: "Consumer confidence is showing signs of reviving again after being hit by gloomy talk surrounding the Budget, which pulled sentiment off the recent post-election high seen in July.
