Consumer confidence at four-year high in Q3

Consumer confidence has reached a four-year high in the third quarter of 2015, according to the latest Deloitte Consumer Tracker.

The quarterly survey of 3,000 UK consumers said that consumers have shrugged off the turmoil seen in the global financial markets during the period. Consumer confidence rose by 2%, despite coinciding with a period that saw the FTSE 100 index fall by 700 points.

All six measures of confidence in the report were up from the previous quarter, with the biggest gains included consumers’ level of debt, job opportunities and career progression.

In addition, those living in London and the South East recorded a resurgence in consumer confidence, following a fall in the previous quarter amid concerns about the weakness of the property market and the affordability of housing.

Ian Stewart, chief economist at Deloitte, said: “UK consumers seem unperturbed by financial market and emerging economy weakness that have dampened sentiment in the corporate sector.

“For consumers the good news on rising real wages and improving job security trump the bad news from the global economy.”