Consumer confidence in the UK has risen this month following the start of Covid-19 vaccination programme.
GfK’s Consumer Confidence Index increased by seven points to -26. The index measuring people’s personal finances forecast over the next 12 months rose by eight points to 3 while the measure for expectations for the general economic situation over the same period climbed by 15 points to -35. Meanwhile, GfK’s major purchase index increased by six points to -22.
Joe Staton, GfK’s client strategy director, commented: “Many might be surprised that we are ending 2020 on a much brighter note after a roller-coaster 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.”
He added: “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?”
