Consumer confidence shows early signs of improvement

GfK’s 4th Covid-19 flash report, based on data gathered between 18 and 26 June, shows consumer confidence has increased by three points over the past two weeks to -27. Four measures of confidence increased and one measure decreased, the research finds.

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.

“After the recent near-historic low of -36 for the Consumer Confidence Barometer last month, 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.”

The Covid-19 flash report was conducted among 2,000 individuals aged 16-years-old and over.