26.05.2020
Joe Staton, GfK’s Client Strategy Director, comments:
“At -34, Consumer Confidence in the UK remains battered despite efforts at loosening the COVID-19 restrictions. With unemployment claims rising by the highest rate on record and warnings of a recession and possible tax hikes, the damage done by the coronavirus pandemic to the UK economic landscape has been laid bare.
"The lower scores we have registered during May for perceptions of the general economic situation reflect this, and the Government is dampening down expectations of an immediate economic bounce back. So, despite plans to get the country up and running, consumers feel we are not out of the woods yet.
"Confidence will remain fragile for some time and the possibility of another spike in COVID-19 cases as we adapt to the ‘new normal’ is an obvious danger.”
The Overall Index Score decreased by one point over the past two weeks. Two measures decreased, two measures increased and one remained the same.
The index measuring changes in personal finances during the last 12 months is unchanged at -4; this is seven points lower than May 2019.
The forecast for personal finances over the next 12 months is slightly higher at -9 this month; this is 14 points lower than May 2019.
The measure for the general economic situation of the country during the last 12 months has dropped seven points to -55; this is 25 points lower than in May 2019.
Expectations for the general economic situation over the next 12 months are down one point at -54 points; this is 25 points lower than May 2019.
The Major Purchase Index has increased two points to -47 in May; this is 48 points lower than it was in May 2019.
The Savings Index has stayed the same in May at +14; this is two points lower than at this time last year.
AI-enabled features give better predictions at speed in highly unpredictable landscapes
Read moreBrits more upbeat about personal finances for year ahead as Index Score jumps seven points to -16 in March. All five measures were up against the February 19th announcement.
Read moreGfK Brand Architect measures brand strength by replicating how consumers choose brands in real life. This new framework bridges the gap between consumer attitudes and actual buying behaviour.
Read moreGfK’s long-running Consumer Confidence Index increased five points to -23 in February, but not enough for the Index to spring back to positive territory.
Read more
CLIENT PORTALS
View all
