Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “The latest GfK survey showed confidence edging up again in January, with households feeling noticeably better about their own finances even as views on the wider economy remain gloomy.
“That “less bad” trend is feeding through to spending, with December retail sales beating expectations despite the usual seasonal noise.
“Taken together, the backdrop points to steady, rather than spectacular, consumer growth ahead, underpinned by rising real wages, a more active housing market and gradually falling interest rates.”
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