GfK: Consumer Confidence increases by three points in August

GfK’s UK Consumer Confidence Index has increased three points to 7 in August. Four of the measures used to calculate the Index saw increases this month and one measure saw a one-point decrease.

Joe Staton, Head of Market Dynamics at GfK, says:

“Consumers continue to report higher levels of confidence this month maintaining the positive growth curve we’ve seen since the start of 2015. Rising house price inflation and improving employment growth prospects, combined with falling petrol prices and day-to-day living costs, as well as low interest rates, are translating into high levels of confidence across all major measures. Confidence in the future for both our personal financial and general economic situation for the next 12 months remains strong – consumers now believe that UK economic recovery is robust, we’re in the black and that prospects for growth are fact and not fiction.”

Personal Financial Situation
The index measuring changes in personal finances during the last 12 months has decreased by one point this month to 3; this is ten points higher than August 2014.

The forecast for personal finances over the next 12 months has increased
one point to 7 this month; this is two points higher than August 2014.

General Economic Situation
The measure for the General Economic Situation of the country during the last 12 months has increased four points this month to 3; this is four points higher than August 2014.

Expectations for the General Economic Situation over the next 12 months has increased four points to 3; this is eight points lower than this time last year.

Major Purchase Index
The Major Purchase Index has increased six points this month to 17; this is 18 points higher than this time last year.

Savings Index
The Savings Index has decreased one point to 2; which is ten points higher than August 2014.

Research carried out by GfK on behalf of the European Commission.

Source : GfK
www.gfk.com