Games 'have lifted country's mood'

Team GB's medal haul has lifted the country's mood, with an increase in people who say they are satisfied with life, according to a study.

A poll of 2,000 people, as part of the monthly Which? consumer tracker, shows a significant jump in life satisfaction during the Olympics.

In the latest poll, the number of people who said they were satisfied with life overall increased to 62% during the first week of the Olympics from 53% in June.

The survey also shows increased satisfaction with specific areas of life.

People this month say they are more satisfied with their household income, standard of living and leisure time than they were in June.

Richard Lloyd, Which? executive director, said: "A sharp increase in life satisfaction so quickly suggests an Olympic boost to our happiness.

"A growing Team GB medal haul and the community spirit as friends, family and communities enjoy the Games all seem to have bolstered people's confidence and, quite simply, made them feel happier.

"Unfortunately this optimism isn't reflected when it comes to the wider economy, with 72% of people describing the UK economy as poor, and only one in five expecting it to get better in the next year."

The Which? consumer tracker is one element of the new Quarterly Consumer Report, a new series monitoring how people feel about the current financial situation.

It also includes a new Spending Power Index which tracks month-on-month changes in consumer purchasing power. This quarter, the index concludes an ongoing decline in standard of living over the past 12 months (-0.9%).