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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 DATA
UK GfK Consumer Confidence fell -2 points to -21 in February, slightly weaker than expected (-18 forecast, -19 prior). It remains below the long-run average of -10, although, on a year-on-year basis, this months reading is a +17 point improvement.
- As the chart shows, consumer confidence has been improving since headline inflation started to moderate towards the end of 2022. This relationship has continued through 2023 and into the start of 2024. However, the closer we are to inflation being around "normal" levels, the more we would expect this relationship to breakdown. Furthermore, consumers' disposable income could be impacted by changes in the upcoming Budget.
- In terms of the month-on-month changes, all sub-components were down, except for 'Personal Financial Situation over the next 12 months' which was unchanged from January at 0. Despite this, all five sub-components remain comfortably above levels seen in February 2023.
- The 'Major Purchase Index' sub-component fell the most this month by -5 points to -25, whilst Savings Index (not included in the GfK Index Score) rose +2 points to 29, 10 points above February 2023 levels.
- February’s survey was conducted among a sample of 2003 individuals from February 1st to February 15th, 2024.
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.
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