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Consumer Confidence Improves For 4th Straight Month



  • UK consumer confidence recovered by a further three points to -27 in the GfK May report, the fourth consecutive monthly improvement and the strongest performance since February 2022 due in large part to significant gains in the forward-looking personal finance and major purchase index sub-components.
  • Despite recent improvements, the indicator still signals an overall pessimistic outlook, substantially lower than the historical average of -10.
  • The forward-looking element of the personal finance situation rose 5 points to -8. This implies brightening outlooks for household buying activity, as the indicator "underpins our ability to spend on goods and services," Joe Staton, Client Strategy Director at GFK noted.
  • The major purchase index meanwhile rose 4 points to -24. Perceptions of the general economic situation over the next 12 months likewise rose four points. The positive overall trajectory this year “might reflect a stronger underlying financial picture across the UK than many would think,” Staton added.

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