November saw sentiment increase 12 points towards the UK’s economic situation from last month to 295 points, representing an annual jump of 79 points from the same time last year. Sentiment towards the current situation also climbed five points to 191. However, consumer confidence towards the future situation has remained static at 116, with the rate of overall improvement flattening off for the second half of the year.
Feelings towards the housing market have increased to -10%, up five percentage points from this time last year and four percentage points from this time last month. There is a notable increase of opinion across the East Midlands to 4% from -9% in October and Greater London at 3% from -10% in October. South West has seen the biggest increase this month, up 17 percentage points since last month to -4%. Northern Ireland is now the most negative at -34%, down 13 percentage points from last month.
Consumers’ sentiment about their own personal financial situation is at its highest level since the start of the survey in 2011, with an eight percentage point improvement from last month at 21% and a 14 percentage point increase from this time last year. Greater London has seen a notable 23 percentage point increase from last month, making it the most positive region at 36%. Scotland currently holds the lowest opinion towards their personal finances at 8%, down 10 percentage points from last month.
Greg Coughlan, Director of Personal Current Accounts at Lloyds Bank said:
“The improvements we have seen over the course of the year are of great benefit to consumers. With consumer confidence at an all time high for the end of 2014, this will hopefully help bolster spending into the new year. As sentiment improves, we know that customers are looking for ways to help make their money go further, which is why we will continue to reward customers with current accounts that help them achieve this.”
