The index said that overall consumer confidence hit -17 in December, a point higher than November’s score.

However, the measure for the general economic situation of the country during the last 12 months was the same as last month at -39, which is five points higher than in December 2023.

Expectations for the general economic situation over the next 12 months were also unchanged at -26, and one point worse than in December 2023.

The index measuring changes in personal finances during the last year was up two points at -7, which GfK said was seven points better than in the same month last year.

The forecast for personal finances over the next year was up two points at a positive score of one, which is three points higher than December 2023.

The Major Purchase Index, which measures whether now is the right time to make a major purchase, was also unchanged at -16 and seven points higher than December 2023.

The Savings Index, which covers whether the time is right to save money, has dropped a further three points to a positive score 21 and is six points lower than this time last year.

The figures comes at the UK saw gross domestic product shrink for a second consecutive month in October ahead of the government budget, according to figures from the Office for National Statistics.

Neil Bellamy, consumer insights director at NIQ GfK, said: “Of all the major events in 2024, the UK general election was the most impactful, with initial post-election optimism giving way to a large seven-point fall in September as consumers were spooked by government messages about the state of the economy and difficult choices to be made.

“Looking at the consumer’s willingness to spend, Black Friday 2024 delivered a vital boost to retailers. Figures from GfK’s point-of-sale data reveal a strong Black Friday sales performance with sales of technology and durables, homeware and seasonal products up 1.8% in value and 7.7% in volume overall versus Black Friday 2023. Turnover in Black Friday week hit £992m, a figure that’s 110% better than the average week in 2024.”