December sees some consumer confidence recovery, says GfK

GfK’s Consumer Confidence Index increased seven points to -26 in December. All five measures increased in comparison to the November 20th announcement, with the Major Purchase Index increasing by six points to -22 (still 25 points lower YoY).

Joe Staton, GfK’s client strategy director, says: “Many might be surprised that we are ending 2020 on a much brighter note after a rollercoaster of a year. It’s safe to say that consumers are looking for good news and they have found it in the form of the UK’s Covid-19 vaccination programme getting underway, which has lifted the mood pre-Christmas 2020.

“The 15-point leap in consumer views on the future economy stands out, and we have not registered a change of that magnitude for that measure since April/May 2011. The renewed expectations on personal finances looking ahead are also welcome, while the six-point uptick in the Major Purchase Index is good news for online and offline retailers. While confidence is still in negative figures, are we finally heading in the right direction?”

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