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08 Mar 2021 | 11:45

UK consumer confidence rises as vaccines offer crisis exit

(Sharecast News) - UK consumer sentiment improved to its highest since the Covid-19 pandemic started as households looked beyond the crisis, a survey showed. YouGov's consumer confidence index increased two points to 105.4 in February from the month before with 100 marking the difference between a rise and a fall. Expectations for business activity, house prices and household finances lay behind the improvement.

Workers believing activity at their workplace will be higher a year from now were the biggest boost to the reading. YouGov conducted its research as the government prepared to set out its roadmap out of the crisis with a successful vaccination programme in full swing. The chancellor's decision to extend the furlough job support programme was also widely trailed.

Darren Laxley, YouGov's director of reputation research, said: "With the furlough scheme extended, the strength of the vaccine rollout and the recently announced roadmap out of lockdown, it would be surprising not to see these numbers improve even more as we head into the spring."

Job security sentiment improved though workers were still negative overall with higher unemployment forecast later in 2021. More respondents reported their financial situation improved and were upbeat about their finances over the next year.

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