Sun. Sep 27th, 2020

UK consumer confidence stuck at lowest level in six years – business live

Rolling coverage of the latest economics and financial news as investors react to UK data showing consumer confidence flatlined in November

12.40pm GMT

Black Friday card purchases have jumped this year.

Barclaycard said the number of debit and credit card transactions as of 10am this morning were up 12.5% compared to 2018.

Over the past couple of years we have seen an increase in the volume of transactions on Black Friday. This trend has continued in 2019, and this morning we’ve already seen an 12.5 per cent rise compared to the same period last year.

This is fantastic news for retailers, with our data showing that transactions have also been strong throughout the week of Black Friday.

Related: Black Friday 2019: best deals, bargains and the latest news – live

12.14pm GMT

GfK survey shows consumers are far more cheery about their own finances – at least relative to their views on the wider UK economy.

Consumers believe their personal financial circumstances slightly worsened in the year to November, but that only resulted in the score dropping from 1 to 0.

The post-referendum pattern of resilient personal expectations and weak national expectations seems to have persisted.

Alongside the reduction in the savings index, this implies a resilient picture for consumption in the near term.

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