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UK GfK Highest Since Sep-21

UK DATA
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UK GfK Consumer Confidence rose in-line with expectations by 1 point to -13 in July - the highest level since September 2021 and the fourth consecutive monthly increase.

  • 4 of 5 subcomponents improved or remained unchanged, with all above levels seen in July 2023. In particular, the 'Major Purchase Index' rose 7 points to -16.
  • Meanwhile, 'Personal Financial Situation over the next 12 months' fell 1 point to 3.
  • The chart below showed that from late 2022 through 2023 as inflation moved away from its peak, consumer confidence rose in tandem. However, as inflation approached target this relationship has broken-down somewhat.
  • July's survey was conducted among a sample of 2,005 individuals from June 28th to July 12th.
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UK GfK Consumer Confidence rose in-line with expectations by 1 point to -13 in July - the highest level since September 2021 and the fourth consecutive monthly increase.

  • 4 of 5 subcomponents improved or remained unchanged, with all above levels seen in July 2023. In particular, the 'Major Purchase Index' rose 7 points to -16.
  • Meanwhile, 'Personal Financial Situation over the next 12 months' fell 1 point to 3.
  • The chart below showed that from late 2022 through 2023 as inflation moved away from its peak, consumer confidence rose in tandem. However, as inflation approached target this relationship has broken-down somewhat.
  • July's survey was conducted among a sample of 2,005 individuals from June 28th to July 12th.