Encouraging retail sales figures and a modest improvement in consumer confidence today fuelled hopes that UK households are coping with the current inflationary pressures.
A 0.8% rise in the October retail sales figure was driven by a pick-up in clothing, department store and toy shop business, possibly driven by an early start to Christmas shopping.
Food and online sales fell, but the Office for National Statistics said they were still above pre-pandemic levels.
There was also encouragement from the latest GfK consumer confidence index, which showed the mood of the nation improved unexpectedly in November from the eight-month low recorded the previous month.
