Evidence of an "Olympic bounce" in consumer confidence, as Team GB's record gold medal haul lifted national spirits, is expected this week despite the general weakness of the economy.
GFK/NOP's closely watched index has been stuck deep in recession territory for more than a year, remaining at minus-29 for the past three months. And consumers are also back in recession after the Office for National Statistics reported a second successive quarter of falling household spending between April and June.
But the Olympic effect – along with some long-awaited better weather – is set to lift the mood with a slight rise expected by most economists.
Investec economist Victoria Clarke said: "We tend to the view that August's reading may actually show a modest improvement, with the London 2012 Olympics games delivering a feel-good factor and with the widely touted success of the Games helping to deliver a dose of national pride."Reuse content