It’s on the rise again. UK consumer confidence in April gained another two points on the back of optimism about personal finances.

The latest, mostly improved figures from data company GfK also support last week’s finding from Deloitte that showed UK consumer confidence has reached a new two-year high amid improving personal finances, especially among 25-34 year-olds.

Following a static reading in March, this month’s confidence reading rose to -19 with GfK’s overall index showing four measures were up and one stayed the same in comparison to last month’s announcement.

Specifically, the index measuring changes in personal finances during the last year is up two points at -11, some 10 points better off than in April 2024, while the forecast for personal finances over the next 12 months is unchanged at +2, 15 points higher than this time last year.

The measure for the general economic situation of the country during the last 12 months is up four points at -41 month on month, 14 points higher than in April 2023, and expectations for the general economic situation over the next 12 months increased by two points to -21, or 13 points better than last April.

The Major Purchase Index is also up two points to -25, three points higher than this month last year and the Savings Index increased one point to +26 in April, seven points higher than this time last year.

Of course, we can’t ignore the fact that most of these numbers are still in negative territory, despite the clear improvement, and UK consumers can hardly be said to be brimming with confidence.

Joe Staton, Client Strategy Director GfK, said: “While the Overall Index Score remains negative, all of the underlying five measures this April are significantly better than they were last [month and] last April.

“These improvements reflect the impact on household budgets of lower inflation and the anticipation of further tax cuts. However, we are a long way from the much firmer sentiment last seen in the period before Brexit, Covid and the conflict in Ukraine.

“There is a lot of ground to make up, and caution is needed in the face of continuing economic and fiscal challenges, and revised views on when the Bank of England might cut borrowing costs. But spring has arrived and maybe consumer confidence is, at last, slowly becoming brighter and heading in the right direction.”