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Consumer confidence shows slight uptick although it remains severely depressed

A new survey by GfK has shown there was a slight improvement in consumer confidence at the end of April despite the level remaining “severely depressed”…. View Article

GENERAL MERCHANDISE

Consumer confidence shows slight uptick although it remains severely depressed

A new survey by GfK has shown there was a slight improvement in consumer confidence at the end of April despite the level remaining “severely depressed”.

In GfK’s second Covid-19 flash report, the company said its long-running Consumer Confidence Index increased by one point to -33.

Although the majority of high street stores have been closed during the covid-19 crisis, there was a small uplift in the major purchase part of the index which rose by three points. This suggests there is an element of pent-up demand that retailers will benefit from once the lockdown restrictions are lifted.

There were also three point increases in the indexes measuring people’s expectations for the general economic situation and their personal finances over the next 12 months.

Joe Staton, GfK’s client strategy director, said: “Despite a one-point improvement in our second Covid-19 flash report at minus -33, consumer confidence in Britain’s lockdown economy is still severely depressed.

“However, we are recording small improvements in our personal finances and the wider economic picture for the next 12 months, key indicators when gauging optimism for our path to recovery.”

Photo by Georgia Hawkins

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