Consumer confidence saw a slight uptick this month as the Budget was not as bad as expected, but the overall outlook is still gloomy, according to data from the BRC.
Expectations for the state of the economy improved to -38 in December, up from -44 in November.
UK consumers’ personal financial situation also improved. In December, it reached -10, up from -16 in November.
Personal savings declined to -9 in December, down from -5 in November.
BRC chief executive Helen Dickinson said: “With the Budget not as bad as feared for households, confidence saw a slight uptick in December. Yet the overall picture remains gloomy, with confidence in the economy stuck below -30 for 11 out of the last 12 months.
“Expectations for retail spending continued to slide for the third consecutive month, proving challenges remain in the year ahead.
“The government needs to pull the levers of growth, tearing down red tape and bureaucracy to allow businesses to flourish and create more jobs.
“From the Employment Rights Bill to rules on less healthy foods, the government must consider the cumulative impact of its policies on business, ensuring new regulations are workable and do not punish responsible businesses.”
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