This renewed optimism could also translate into a busy time for retailers

This renewed optimism could also translate into a busy time for retailers

Confidence among UK consumers soared in June, jumping six points to levels not seen since the late nineties or early days of the noughties.

GfK’s Consumer Confidence Index was up six points to 7 last month, with all five measures used to calculate the index seeing increases in June.

Joe Staton, head of market dynamics at GfK, described the dramatic uptick as a post-election bounce.

"Across all key measures we’re reporting higher levels of financial optimism for both our own personal situation and for the general economy as a whole for the coming 12 months. This renewed optimism could also translate into a busy time for retailers.

"The number of shoppers agreeing that "now is a good time for people to make major purchases such as furniture or electrical goods" has powered ahead by a buoyant 14 points this month compared to negative sentiment for the same period last year," he said.

The Major Purchase Index increased 14 points in June to 16; 18 points higher than this time last year.