TEST FROM BANK OF CANADA, PLEASE IGNORE

MNI BRIEF: US Existing Home Sales Fall 5.4% To 3.89M In June

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

MNI: UK APR-JUN MEDIAN PAY AWARDS +4.9% :Brightmine

US Treasury Auction Calendar

BoC Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

UK GfK Highest Since Dec-21

UK DATA
Data BulletDataHomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

UK GfK Consumer Confidence rose slightly more than expected by 2 points to -17 (vs -18 consensus, -19 prior) in May, and rose 10 points on a year-on-year basis - the highest level seen since December 2021.

  • 4 of 5 subcomponents improved. In particular the 'Personal Financial Situation over next 12 months' component rose 5 points to 7 points (vs -8 in May 2023), the 'General Economic Situation over next 12 months' component rose 4 points to -17 making it 13 points higher than May 2023 levels, although it remains negative.
  • Meanwhile the 'Major Purchase index' component fell by 1 point to -26 - 2 points lower than the May 2023 level.
  • While again, the overall index remains negative, 4 of 5 subcomponents improved since May last year.
  • The chart below shows, that although the progress is slowing, as inflation continues to soften consumer confidence continues to rise. The Client Strategy Director says "with the latest drop in headline inflation and the prospect of interest rate cuts in due course, the trend is certainly positive... All in all, consumers are clearly sensing that conditions are improving. This good result anticipates further growth in confidence in the months to come."
  • May's survey was conducted among a sample of 2,009 individuals from May 1st to May 15th.

212 words

To read the full story

Close

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 GfK Consumer Confidence rose slightly more than expected by 2 points to -17 (vs -18 consensus, -19 prior) in May, and rose 10 points on a year-on-year basis - the highest level seen since December 2021.

  • 4 of 5 subcomponents improved. In particular the 'Personal Financial Situation over next 12 months' component rose 5 points to 7 points (vs -8 in May 2023), the 'General Economic Situation over next 12 months' component rose 4 points to -17 making it 13 points higher than May 2023 levels, although it remains negative.
  • Meanwhile the 'Major Purchase index' component fell by 1 point to -26 - 2 points lower than the May 2023 level.
  • While again, the overall index remains negative, 4 of 5 subcomponents improved since May last year.
  • The chart below shows, that although the progress is slowing, as inflation continues to soften consumer confidence continues to rise. The Client Strategy Director says "with the latest drop in headline inflation and the prospect of interest rate cuts in due course, the trend is certainly positive... All in all, consumers are clearly sensing that conditions are improving. This good result anticipates further growth in confidence in the months to come."
  • May's survey was conducted among a sample of 2,009 individuals from May 1st to May 15th.