Despite the unfavourable economic headwinds and the threat of a second lockdown, consumer confidence in the UK enjoyed an uptick in September.
GfK’s long-running Confidence Index increased two points to -25 with three measures increasing, one decreasing and one staying the same in comparison to the figures in August:
However, the overall index remains a long way from positive territory and well below the -12 that was recorded in September last year, with concerns the recent fragile improvement could be about to come to a grinding halt.
Joe Staton, Client Strategy Director GfK, said: “Looking ahead over the rest of 2020 and beyond, keep an eye on our personal finance measure for the coming year and the major purchase intentions of consumers. These reflect how much we intend to spend, shop or invest, all vital considerations for retailers as we enter the ‘golden quarter’ in the run-up to Christmas.
“However, consumers are as jittery as stock markets right now and as the UK government puts the brakes back on – and there may be more to come – only an unbridled optimist will bet on confidence climbing further.”
