People’s confidence in the UK’s economic outlook improved towards the end of 2023, despite continuing to battle a cost-of-living crisis. Although it has strengthened over the year to December, “consumer sentiment” as this confidence is called, is still in negative territory.
Indeed, UK consumer price inflation remains well above the Bank of England’s 2% target and interest rates are at highs not seen since the wake of the global financial crisis in 2008?. And, of course, the outlook for the UK economy in 2024 is also in the doldrums.
