Consumer confidence improves in September

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Consumer confidence increased two points in September to reach -25, new research reveals.

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GfK’s long-running Consumer Confidence Index shows three measures of conficence increased in the month, one decreased and one stayed the same.

Joe Staton, client strategy director GfK, said: “Despite unfavourable double-dip economic headwinds and the threat of a second lockdown, we report an uptick for September as the Overall Index Score climbs to -25 from the near-historic low of -36 in our early June ‘flash’.”

He added: “Looking ahead over the rest of 2020 and beyond, keep an eye on our personal finance measure for the coming year and the major purchase intentions of consumers. These reflect how much we intend to spend, shop or invest, all vital considerations for retailers as we enter the ‘golden quarter’ in the run-up to Christmas. However, consumers are as jittery as stock markets right now and as the UK government puts the brakes back on – and there may be more to come – only an unbridled optimist will bet on confidence climbing further.”

The UK Consumer Confidence Barometer is conducted among a sample of 2,000 individuals aged 16 and over on behalf of the European Commission.