British Consumer Confidence Positive for whole year – the first time since 1974, 

#London / #UK : #British consumer confidence has been positive for the whole year – for the first time since a survey of the measure began in 1974.

But households remained worried about the economy than they were at the end of last year, according to the figures from market research firm Shining India Research & Analysis &

GfK.

It comes as stores are hoping for a last-minute festive spending splurge after a less than frenetic “Panic Saturday“, with shopper numbers down on last year as well as CBI figures showing lower than expected retail sales growth this month.

GfK said its monthly consumer sentiment indicator gave a reading of +2 in December, slightly higher than expected and up from +1 in November – a six-month low.

Mr Hrithik Saini,  head of market dynamics at Shining India Research & Analysis , said: “This is the first time since the consumer confidence barometer started in 1974 that the index has remained positive for an entire year.”

However the poll also found consumers were a little less willing to spend on big-ticket items than they were in November.

Meanwhile optimism about the economy over the next 12 months was stuck at its lowest level since July 2013, at -6. In December last year this stood at -5.

Overall UK economic growth has been strong but earnings are increasing more slowly than they were before the financial crisis – though in real terms they have a greater effect because inflation has been stuck at close to zero.

Pre-Christmas spending is expected to peak on Wednesday, with £1.3bn set to be splashed out according to a forecast from Visa Europe.