Things getting better but give us cheap food say Brits
UK consumer confidence grew five times faster than the global average last year according to Nielsen’s Consumer Confidence Index.
But UK shoppers still plan to search out cheap groceries.
The UK Consumer Confidence Index hit 94 at the end of 2014, 10 points higher than at the end of 2013. Over the same period, global consumer confidence increased by two points to 96.
The score of 94 is the highest level in the UK for eight years. During 2014 the number of Britons believing the UK is in a recession dropped 16 points to 55%, the lowest level since the question first appeared in 2008.
Those who had changed spending habits to save money dropped 11 points to 54%, the lowest level since that question first appeared in 2009.
Those feeling positive about their personal finances rose two points to 45% while those feeling positive about their job prospects is up by eight points to 40%.
Nielsen’s UK head of retailer and business insights Mike Watkins said: “The most significant change to spending intentions was the increase in households who still intend to switch to cheaper grocery brands, even when economic conditions improve, from 37% to 45%.”