Consumer confidence regains all ground lost due to pandemic, data shows

GfK’s long-running Consumer Confidence Index shows three measures were up in comparison to the 23 April announcement, one measure was down, and one was flat.

Joe Staton, client strategy director GfK, said: “The financial mood of the nation has bounced back to its pre-lockdown figure of -9 this month, meaning confidence has made up all the ground lost to Covid-19. UK consumer confidence is being driven by continued optimism for our future personal finances and for the wider UK economy in the next 12 months. That ‘economy next year’ measure has recorded a 15-point jump this month and since January has leapt from -44 to + 4.

“These findings reflect April’s ‘feelgood’ re-opening of outdoor pubs, shops, gyms and hairdressers combined with continuing vaccination success, all this before the possibility of green-list vacation opportunities in May… Growing confidence is fuelling the economy and only a reversal to lockdown can dampen this solid momentum.”

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