The UK consumer confidence improved in May, with the GfK index rising three points to minus 20, reflecting a recovery from April’s tariff-induced decline. This uptick was driven by enhanced sentiments regarding personal finances and the economic outlook, partially attributed to the Bank of England’s interest rate cut. While inflation rose unexpectedly to 3.5% in April, the overall mood among consumers appears to be more optimistic, with a higher willingness to spend on major purchases and improved expectations for personal and economic conditions.
