A DEAD-CAT BOUNCE?

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GFK’S LONG-RUN­NING Con­sumer Con­fi­dence In­dex rose two points to -10 in Au­gust, re­bound­ing from a score of -12 re­ported in July that matched 2016’s post-Brexit low; the in­dex mea­sur­ing changes in ‘per­sonal fi­nan­cial sit­u­a­tion over the last 12 months’ reg­is­tered the big­gest rise. Joe Sta­ton, Head of Mar­ket Dy­nam­ics at GfK, ex­plains: ‘These fig­ures must be seen against the back­drop of better news on in­fla­tion, public fi­nances, jobs and growth prospects as the UK econ­omy dis­plays some signs of sta­bil­ity af­ter a volatile start to the year.’ Yet he cau­tions ‘the In­dex has a lot of ground to re­gain to get back to black. So is this month’s rise sig­nif­i­cant? Or could we sim­ply be wit­ness­ing a dead-cat-bounce over the dog-days of sum­mer?’

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