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GfK: Consumer Confidence Edges Up By One Point

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GfK’s long-running UK Consumer Confidence Index increased one point to -15 in April. Two measures were up in comparison to the March 19th announcement, one was flat and two measures were one point down.

Joe Staton, Client Strategy Director GfK, comments: “Confidence has edged up one point in April, with the picture for personal finances in the coming year remaining strong at +10. There is also another big uptick in our view of the general economic situation in the next 12 months, which has improved six points in April, building on the previous 13-point increase in March and 14-point jump in February.

"This clear trend of growing confidence reflects the forecast of a rebound for the UK's economy during the second half of the year. The improvement in the consumer mood since January is welcome, but the pandemic has hit household finances hard and, on the road ahead, we will still see potential concerns over new variants, rising inflation and the debt overhang. Nevertheless, there’s every chance that, as the recovery gains momentum and the numbers get stronger, confident consumers will continue to spend and drive the wheels of UK finances into the summer and beyond.”

UK Consumer Confidence Measures – April 2021

The Overall Index Score increased one point to -15 in April. Two measures were up in comparison to the March 19th announcement, two measures were down and one was flat.

Personal Financial Situation

The index measuring changes in personal finances over the last 12 months is down one point at -3; this is one point better than April 2020. 

The forecast for personal finances over the next 12 months is the same as last month at +10; this is 24 points higher than this time last year.

General Economic Situation

The measure for the general economic situation of the country during the last 12 months is up two points at -58; but this is 14 points lower than in April 2020.

Expectations for the general economic situation over the coming 12 months have improved by six points to -11; this is 45 points higher than April 2020.

Major Purchase Index

The Major Purchase Index has decreased by one point to -12 in April; this is 40 points higher  than it was this month last year.

Savings Index

The Savings Index is up by one point to +22 in April; this is 17 points higher than this time last year.

Source : GfK Consumer Confidence Barometer April 2021

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23 April 2021

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