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What you need to know
Many macroeconomic measures point to a strengthening in the UK economy: growth has outstripped other major economies, the unemployment rate has fallen, employment is at a high, interest rates are low and pay growth has resumed. Yet this does not appear to have fed through into the consumer sentiment and Britons are still feeling wary.
People appear to be inherently cautious in the aftermath of the recession and ensuing years of lacklustre economic performance and are taking a more thoughtful approach to consumerism. But there are tentative signs that Britons are beginning to be more willing to throw caution to the wind and splash out on more indulgent purchases and experiences.
