Consumer confidence edges up post-Brexit
According to GfK Consumer Confidence Index, consumer confidence rose across all measures in August, compared to the sharpest drop experienced in July, as shoppers outlook increased after consecutive months of declines.
Here are some of the latest shopper sentiments:
- Outlook on the general economy has reported the sharpest increase, up 11 points to -22, followed by the major purchase index, which rose nine points to seven.
- Increasing confidence in personal financial situation over the next year rose 5 points to 4.
- Incremental increased confidence in personal finances over the last 12 months edged up 1 point to 0.
GfK client strategy lead Joe Staton said: “We’re reporting some recovery in the index this month as consumers settle into the new wait-and-see reality of a post-Brexit, pre-exit UK. The uptick in confidence is driven by good news from hard data, the combination of historic low interest rates matched with falling prices and high levels of employment.
Joe Staton added: “We Brits are clearly determined to carry on shopping for today rather than saving for tomorrow.”
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