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Consumer confidence hits high

The GfK/KPMG consumer confidence index jumped by six points in June as UK consumer confidence climbed to the highest level since January 2000. All five measures of GfK's survey, including optimism about personal finances as well as the wider economy, rose in June compared with May. The index was boosted by near-zero inflation and more robust pay growth. The GfK survey showed consumers were becoming more willing to splash out on big-ticket items such as furniture and electrical goods. The post-election poll of consumer sentiment will be interpreted as heralding a strong summer for high street shops, online sales and the leisure industry.

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