GfK: Consumer Confidence Increased This Month

GfK’s long-running Consumer Confidence Index increased by two points to -20 in February. All measures were up in comparison to last month’s announcement.

Neil Bellamy, Consumer Insights Director, NIQ GfK, says:

“In contrast to last month when all five core measures were down, this month they are all up. The biggest improvement is in how consumers see their personal finances for the coming year with an increase of four points that takes this measure out of negative territory to +2. The Bank of England interest rate cut on February 6th will have brightened the mood for some people, but the majority are still struggling with a cost-of-living crisis that is far from over. Prices are still rising above the Bank of England’s target; gas and electricity bills remain a challenge for many households. So, it’s no surprise that consumer views on the general economic situation are still lower than 12 months ago, suggesting that people don’t expect the economy to show any dramatic signs of improvement soon. Politicians looking for bright spots on the horizon will be disappointed.”

UK Consumer Confidence Measures – February 2025
The Overall Index Score increased by two points to -20 in February. All measures were up in comparison to last month’s announcement.

Personal Financial Situation
The index measuring changes in personal finances during the last year is up three points at -7; this is seven points better than February 2024.

The forecast for personal finances over the next 12 months is up four points at +2, which is two points better than this time last year.

General Economic Situation
The measure for the general economic situation of the country during the last 12 months is up two points to -44; this is one point lower than in February 2024. 

Expectations for the general economic situation over the next 12 months have improved three points to -31; this is seven points worse than February 2024.

Major Purchase Index
The Major Purchase Index is up three points to -17; this is eight points better than this month last year.

Savings Index
The Savings Index stayed at +30 in February; this is one point higher than this time last year.

Source : GfK

Image : Ivan Balvan / iStock / 1164273151

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