Increases in all five measures but is this a dead-cat bounce over the dog-days of summer?
GfK’s long-running Consumer Confidence Index increased by two points to -10 in August. All five measures saw an increase.
Joe Staton, Head of Market Dynamics at GfK, says:
“UK Consumer Confidence rebounded to -10 this month after the score of -12 we reported in July that matched 2016’s post-Brexit low. We’re seeing an uptick in August among consumers when reviewing their personal financial situation for both the past and next 12 months, as well as a slight improvement in views about the general economic situation of the country as a whole.
These figures must be seen against the backdrop of better news on inflation, public finances, jobs and growth prospects as the UK economy displays some signs of stability after a volatile start to the year. However, the Index has a lot of ground to regain to get back to black. So is this month’s rise significant? Or could we simply be witnessing a dead-cat-bounce over the dog-days of summer?”
UK Consumer Confidence Measures – August 2017
The Overall Index Score in August is -10. All five measures increased this month, with ‘personal financial situation over the last 12 months’ registering the biggest rise of four points.
Personal Financial Situation
The index measuring changes in personal finances during the last 12 months has increased by four points this month to +2; this is two points higher than this time last year.
The forecast for personal finances over the next 12 months has increased three points this month to +5; this is one point higher than August 2016.
General Economic Situation
The measure for the General Economic Situation of the country during the last 12 months has increased one point to -30; this is seven points lower than August 2016.
Expectations for the General Economic Situation over the next 12 months have increased one point this month to -27; this is five points lower than this time last year.
Major Purchase Index
The Major Purchase Index has increased one point this month to 0; this is seven points lower than August 2016.
The Savings Index has increased one point to +6; this is 21 points higher than August 2016.