Consumer confidence at near two-year high as World Cup and UK holidaying lift summer spending

Barclays says survey shows people feel more secure in jobs and have more leeway to spend on non-essentials Consumer confidence hit its highest level in almost two years in July, according to research that indicated the closing stages of the men’s football World Cup and more people holidaying in the UK lifted summer spending. A truce in the Middle East conflict in June and the arrival of a new prime minister in No 10 also gave a lift to consumers after a long period of heightened uncertainty. A long-running monthly consumer spending survey by Barclays showed that 30% of those surveyed felt confident about the strength of the UK economy in July – representing a 21-month high and a six-percentage-point improvement on June. Consumer card spending grew by 2% year on year last month, after a 1.9% increase in June, Barclays said. The bank said the study showed people felt more secure in their jobs and had more leeway to spend on non-essentials, with discretionary spending up 1.6%.

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