Consumer confidence has seen a significant six-point "Burnham bounce" – the largest increase since November 2023. The Major Purchase Index, an indicator of confidence in buying big ticket items, also saw an eight-point increase to minus 12, three points higher than July last year. Neil Bellamy, consumer insights director at GfK, said: "Hot on the heels of the summer heatwaves, July has delivered a wave of optimism. "The sense of a fresh start following the appointment of a new Prime Minister surely accounts for some of this bounce. "For the 'Burnham bounce' to be sustainable and boost consumer confidence, it will require consistent delivery by the refreshed UK Government against deep cost-of-living challenges and persistent low economic growth."