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London, 23.04.2021

UK consumer confidence edges up one point to -15 in April

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.

Story covered in: Reuters, Retail Week, The Times, Financial Times, Retail Gazette, and more

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.

Download the UK consumer confidence charts: 

GfK's charts for UK Consumer Confidence April 2021

Ends

About the survey

  • The UK Consumer Confidence Barometer is conducted by GfK
  • Any published material requires a reference to GfK e.g. ‘Research carried out by GfK’.
  • This month’s survey was conducted among a sample of 2,002 individuals aged 16+.
  • Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population.
  • Interviewing was carried out between April 1st and April 13th 2021.
  • The figures contained within the Consumer Confidence Barometer have an estimated margin of error of +/-2%.
  • The Overall Index Score is calculated using underlying data that runs to two decimal points.
  • The confirmed date of the next press release is April 23rd. The remaining dates for 2021 are: May 21st, June 25th, July 23rd, August 20th, September 24th, October 22nd, November 19th and December 23rd. 
  • This study has been running since 1974. Back data is available from 2006.
  • The table below provides an overview of the questions asked to obtain the individual index measures:


Personal Financial Situation

(Q1/Q2)

This index is based on the following questions to consumers: ‘How has the financial situation of your household changed over the last 12 months?’

‘How do you expect the financial position of your household to change over the next 12 months?’ (a lot better – a little better – stay(ed) the same – a little worse – a lot worse)

General Economic Situation

(Q3/Q4)

This index is based on the following questions to consumers: ‘How do you think the general economic situation in this country has changed over the last 12 months?’

‘How do you expect the general economic situation in this country to develop over the next 12 months?’

(a lot better – a little better – stay(ed) the same – a little worse - a lot worse)

Major Purchase Index

(Q8)

This index is based on the following question to consumers: ‘In view of the general economic situation, do you think now is the right time for people to make major purchases such as furniture or electrical goods?’

(right time – neither right nor wrong time – wrong time)

Savings

Index

(Q10)

This index is based on the following question to consumers: ‘In view of the general economic situation do you think now is?’ (a very good time to save – a fairly good time to save – not a good time to save – a very bad time to save)

(Commented on but not included in the Index Score)


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