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GfK’s long-running Consumer Confidence Index remained at -27 for August. Three measures of confidence were down and two were up against the previous data, which was released on 24 July.
Joe Staton, GfK’s client strategy director, said: “Circumspect consumers report they are more confident about their personal financial situation over the next year but the uptick from zero up to +1 does not amount to much, and this can change quickly when furlough ends and the inevitable redundancies start.
“Employment is now the big issue because the pandemic has ended years of job security. Yes, discounted dinners have proved a winner with hungry consumers across the country this month, but it’s difficult to see any increased appetite for other types of spending for now. While our Major Purchase Index managed to increase by one point in August, the economic headwinds are not favourable as we enter the key retailing months at the end of the year.”
The UK Consumer Confidence Barometer is conducted among a sample of 2,000 individuals aged 16 and over on behalf of the European Commission.
