GfK: Consumer Confidence Unchanged in April

UK Consumer Confidence stubbornly marks -13 for third month in a row.

Joe Staton, Client Strategy Director at GfK, says: 

“We have reported a -13 headline for the past three months and it appears it’s a case of ‘Keep Calm’ when it comes to how confident consumers are feeling right now.  Despite political carry-on in the Westminster bubble with the clock ticking on Britain’s eventual departure from the EU, consumers are holding firm and remain unshaken by the daily headlines of turmoil and intrigue, although we remain in negative territory. 

"This month we see a dip in the measures for our personal financial situation - both looking back a year and ahead to the coming year - but this is balanced by a small increase in our perspective on the state of the UK economy.  The further two-point drop in our measure on ‘major purchases’ suggests more challenges in the near future at least for the retail sector. 

"The biggest change is a sudden drop in the motivation to save money – this is down by eight points – and represents the largest monthly drop in our savings measure since after the Brexit referendum in June 2016.”  

UK Consumer Confidence Measures – April 2019

The Overall Index Score in April 2019 is -13; Two measures increased and three saw a decrease in April.

Personal Financial Situation 

The index measuring changes in personal finances during the last 12 months has decreased this month to -1; this is the same as April 2018.

The forecast for personal finances over the next 12 months decreased by two points to 0 this month; this is four points lower than April 2018. 

General Economic Situation 

The measure for the general economic situation of the country during the last 12 months has increased by three points this month; this is one point lower than April 2018.  

Expectations for the general economic situation over the next 12 months have increased two points to -34; this is ten points lower than April 2018.   

Major Purchase Index 

The major purchase index decreased two points in April 2019 to -1; this is four points lower than April 2018.    

Savings Index 

The savings index has decreased eight points in April to +12; this is two points higher than at this time last year.

Source : GfK

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