Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK consumer sentiment remained at May's level in June, as a more positive assessment of consumer's personal finances was offset by a dip of household's opinion regarding the future economic situation, data published Friday by Gfk showed. Nevertheless, "the upwards trajectory for the Index since the dark days at the start of the pandemic is currently still on track," said Joe Staton, group Client Strategy Director.
Consumer confidence registered at May's level of -9 in June, with households opinion about their past and future financial situation improving by 4pt and 1pt, respectively, while consumer's assessment for the outlook of the economy dropped 6pt. "Forecasts for rising retail price inflation could weaken consumer confidence quickly and that may account for the six-point dip in June in our measure for the wider economy in the coming year," Staton added.
The major purchases index rose for the third successive month, up 2pt in June, which "could see shoppers spending in anticipation of a staycation summer." Household's savings intentions only eased marginally by 1pt, leaving the index 5pt higher than in June 2020.
Source: Gfk
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.