Retailers will be hoping for a successful Black Friday as data showed falling inflation and sustained pay growth appears to be boosting households’ confidence.

GfK’s consumer confidence tracker, which has surveyed households since the 1970s, showed a sharp rise in sentiment, particularly when it comes to families’ assessments of the economy and their willingness to commit to major purchases.

It comes as retailers offer big discounts for Black Friday, the shopping event that takes place on the fourth Friday of November each year after the US Thanksgiving holiday.

Joe Staton, director at GfK, said: “People are thinking about their future with increased confidence and willingness to look beyond the short-term.

He said the improvement in confidence “will be good news for retailers looking to benefit from Black Friday and Christmas”. 

He added: Despite the acute cost-of-living pressures, many would still like to loosen their purse strings just a little so they can enjoy that feel-good factor we all associate with the festive season.”

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