THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Consumer confidence up two points in May

Consumer confidence edged up in May as people felt more confident about their personal finances but were downbeat about making major purchases.

GENERAL MERCHANDISE

Consumer confidence up two points in May

Consumer confidence edged up in May as people felt more confident about their personal finances but were downbeat about making major purchases.

Figures from GfK’s long running Consumer Confidence Index show that the index rose by two points in the month to -7.

Joe Staton, client strategy director at GfK, said: “UK consumers are feeling more upbeat this month with a two-point rise in the overall index score. The scores for personal finances (both for the past year and next year) are positive. However, consumers remain resolutely downbeat about the general state of the economy. These negative economic scores are depressing the overall index and preventing it from breaking out into positive territory.”

GfK’s measure for the forecast for personal finances over the next 12 months increased by four points to 8 this month while the measure for expectations for the general economic situation over the same period rose by three points to -21.

However, the major purchase index decreased by two points to 1 which was eight points lower than in May 2017.

Staton added: “There’s little motivation to spend as seen by a two-point drop in the major purchase index. With UK retail sales falling at their sharpest rate since the mid-90s, tough trading conditions for Britain's hard-pressed retail sector continue to take their toll. Shoppers are still not showing signs of a willingness to splash-the-cash. Will this self-imposed austerity remain the hallmark of pre-Brexit Britain in the run-up to March 2019 and beyond?”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2018
The HR Summit 2018
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues