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GfK: Flash Report Shows A Three-Point Rise In Consumer Confidence

GfK Growth from Knowledge

GfK has released its 4th COVID-19 flash report using data gathered between 18th and 26th June. It shows the long-running Consumer Confidence Index has increased by three points over the past two weeks. Four measures increased and one measure decreased.  

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Joe Staton, GfK‘s Client Strategy Director, says: “Despite the backdrop of dire warnings about the state of the economy, large-scale job losses, the end of furlough with the prospect of further unemployment, and a possible second-wave of COVID-19, consumers appear to be slightly more confident as lockdown loosens across parts of the UK.

"After the recent near-historic low of -36 for the Consumer Confidence Barometer last month, we‘re seeing some early signs of improvement across most measures for our fourth COVID-19 flash, even though all our core scores remain negative.

"The seven-point jump in the Major Purchase Index could bode well for ‘reopening day’ this Saturday as more shoppers hit the high streets after a trip to the pub and visit to the hairdresser. However, economic headwinds could easily blow any recovery off-course with confidence remaining fragile and volatile amid few signs of stability.”

UK Consumer Confidence Measures – 4th COVID-19 flash

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The Overall Index Score increased by three points over the past two weeks to -27. Four measures increased and one measure decreased.

Source : GfK

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07 July 2020

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