Consumer confidence rises in summer

UK consumer confidence rose in the second quarter of 2013, according to new figures released by Tesco supermarket and dunnhumby.
Covering April, May and June, the statistics show that there has been a substantial rise in the number of people that believe the country is well on the road to recovery.
Analysts at the two firms argue that the prolonged period of hot weather in the second quarter of this year, as well as the sporting successes of the British and Irish Lions, Andy Murray and Chris Froome, contributed to the improvement.
However, Tesco did sound a note of caution and said a greater proportion still believe the UK economy is in poor shape than those who believe it is doing well – which may affect the supermarket’s sales in the short to medium-term.
Philip Clarke, chief executive of Tesco, commented: “It’s not yet clear if the recent improvements in consumer confidence are thanks to these short-term factors … what we do know is that consumers are continuing to look for great value and I don’t see that changing.