Consumer confidence improves in December
New data has revealed that UK consumer confidence has risen in December as people’s perceptions about the prospects for the general economy improved.
GfK’s long-running Consumer Confidence Index has increased by three points to –11 this month. The survey was carried out before the result of the general election.
Joe Staton, client strategy director at GfK, said: “There’s a clear sense of a change in consumer sentiment this month. We haven’t seen such a robust increase in confidence about our economic future since the summer of 2016. Despite official warning signs about the flatlining of Britain’s economy, we know that record high employment and below target levels of inflation are helping to boost consumers’ expectations for the year ahead.”
The measure for expectations for the general economic situation over the next 12 months has climbed seven points to -27 while the major purchase index has increased by three points to 3.
Meanwhile, the index measuring the forecast for people’s personal finances over the next 12 months has edged up two points to 3.
Staton added: “The overall index score has failed to break into positive territory for the past four years due to confusion and uncertainty about the future direction of the UK. A great many people will be gazing into their crystal balls right now; ours indicates a rebound in confidence in 2020 based on renewed optimism and energy for a post-Brexit Britain.”
