Consumer confidence remains unchanged in August
Consumer confidence has been stable in August despite people feeling less optimistic about the wider economy.
GfK has announced that its long-running Consumer Confidence Index has remained at the same level as July at -13.
The measure for the forecast personal finances over the next 12 months is up three points at +6, which GfK said could be due to a “mortgage friendly” interest rate cut at the beginning of the month.
GfK’s Major Purchase Index is also up with a rise of three points to -13, which is 11 points higher than August last year.
However, the measure for expectations for the general economic situation over the next 12 months is down four points at -15 to mark the first decline since February.
Joe Staton, client strategy director at GfK, said: “The Overall Index Score is unchanged at -13, although there are interesting contrasts behind this headline.
“The wider point beyond the contrasts is that all the key numbers this month are significantly more encouraging than 12 and 24 months ago. But as we move into autumn and winter, how much further will this slow improvement in the mood of the nation run?”
