Consumer expectations for the UK economy rose from -43 in June to -37 in July, while respondents’ confidence in their personal financial situation increased from -15 to -12 in the most recent survey.

Personal savings for the next three months also saw greater optimism, up from -9 in June to -4.

However, expectations for personal spending overall fell from a positive score of 16 in June to 13 in July, while personal spending on retail dipped from five to one.

The findings are based on a sample of 2,000 UK adults, with results weighted and assigned a net score, and fieldwork carried out by Opinium between 7^th and 10^th July.

James Endersby, chief executive at Opinium, said: “The recovery in consumer confidence is now becoming a trend rather than a one-off improvement, but retailers should be careful not to overinterpret the headlines.

“Consumers are feeling more positive about the future, yet they’re still exercising restraint with their spending. Confidence is an important leading indicator, but it will take time before it feeds through into stronger retail demand.”

Helen Dickinson, chief executive at the British Retail Consortium, said: “This rise may have been driven in part by Andy Burnham’s confirmation as the next PM, ending a period of political instability, as well as by a national feel-good factor of England progressing through the World Cup knockout stages.

“While the direction of travel is encouraging, confidence remains fragile, with cost-of-living pressures continuing to weigh heavily on many families. While retailers are doing all they can to keep prices affordable for customers, the government can play its part to reduce the cost burden on the industry, giving retailers the breathing room to invest in lower prices for the future.”