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Consumer confidence edges up as lockdown eases

Consumer confidence edged up in the latter part of June as Covid-19 lockdown restrictions began to ease. According to GfK’s long running Consumer Confidence Barometer, the… View Article

GENERAL MERCHANDISE

Consumer confidence edges up as lockdown eases

Consumer confidence edged up in the latter part of June as Covid-19 lockdown restrictions began to ease.

According to GfK’s long running Consumer Confidence Barometer, the overall index rose by three points in the two week period to -27.

Joe Staton, GfK‘s client strategy director, said: “Despite the backdrop of dire warnings about the state of the economy, large scale job losses, the end of furlough with the prospect of further unemployment, and a possible second-wave of Covid-19, consumers appear to be slightly more confident as lockdown loosens across parts of the UK.”

While the index measuring people’s expectations for their personal finances in the next 12 months rose by one point to -3, the index measuring people’s expectations for the general economic situation in the period increased by six points to -42.

There was also an uplift in the major purchase index which rose by seven points to -25.

Staton added: “We‘re seeing some early signs of improvement across most measures for our fourth Covid-19 flash, even though all our core scores remain negative. The seven-point jump in the major purchase index could bode well for ‘reopening day’ this Saturday as more shoppers hit the high streets after a trip to the pub and visit to the hairdresser. However, economic headwinds could easily blow any recovery off-course with confidence remaining fragile and volatile amid few signs of stability.”

Photo by Georgia Hawkins

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