Summary
The UK economy's consumer confidence levels show different feelings among age groups. Younger people are feeling more positive, while older people are feeling more negative about the economy. These changes seem to be linked to political opinions, especially around the 2024 General Election.
Key Facts
- Consumer confidence is a measure of how people feel about the economy's future and their personal finances.
- The GfK Consumer Confidence Barometer is a long-running survey that tracks these feelings.
- Confidence levels for people under 50 increased noticeably in late 2024.
- Confidence levels for people over 50 have decreased significantly since late 2024.
- The changes in confidence appear linked to the 2024 UK General Election.
- Younger people, who lean towards liberal views, feel more optimistic after the election.
- Older people, who generally support Conservative views, have a more negative economic outlook.
- Social media and its algorithms might influence these age groups' perceptions of the economy.
