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British Consumer Confidence Rises to Highest Levels Since September 2018

The GfK consumer sentiment went up to -10 in May from -13 in April, painting a better picture about UK consumers. Not only did this figure beat economist expectations in May, it is also the highest level since September 2018.

An improvement in personal finances among British consumers over high levels of employment and rising wage growth has helped boost the consumer sentiment in the UK. However, things don’t appear so optimistic for the overall economy in the coming months due to Brexit uncertainties.

GfK stated that further gains in the consumer sentiment are expected to remain limited in the coming months because of the lack of clarity over the Brexit situation. Llyods Bank’s monthly business barometer also fell to +10 in May from +14 April, reflecting the pessimism in business morale in the UK.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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