Latest figures suggest that consumer confidence edged down in January despite the mass roll-out of the Covid-19 vaccine.
GfK’s Consumer Confidence Index dropped by two points this month to -28. Four measures decreased in comparison to the last survey and one measure increased.
Joe Staton, GfK’s Client Strategy Director, commented: “Despite the widespread anticipation of a ‘return to normal’ with the ramp-up of the vaccination programme, it is too early to deliver a jolt in the arm to UK consumer confidence.
“Our view of the general economic situation still makes for grim reading, especially expectations for the coming year, which shows a nine-point drop. This continues to suppress the overall index, which is further dampened by a weak major purchase score, as reflected in retail sales figures across the country.
“However, the key is how we all view our personal financial situation for the next 12 months. Confidence in this figure reflects our financial hopes and fears, as well as those of our families and loved ones, and it seems to be holding up. This is positive news because, amid widespread uncertainty over jobs and livelihoods, any decline in how we see our personal finances in the year to come would be a clear warning for the economic outlook.”
