GfK’s Consumer Confidence Index stayed at the same level of -13 in April. Two measures increased and three decreased – these included the major purchase index, which fell by two points to -1, down four points YoY.
Joe Staton, client strategy director at GfK, says: “We have reported a -13 headline for the past three months and it appears it’s a case of ‘Keep Calm’ when it comes to how confident consumers are feeling right now.
"Despite political carry-on in the Westminster bubble with the clock ticking on Britain’s eventual departure from the EU, consumers are holding firm and remain unshaken by the daily headlines of turmoil and intrigue, although we remain in negative territory. This month we are reporting a dip in the measures for our personal financial situation looking back a year and ahead to the coming year, but this is balanced by a small increase in our perspective on the state of the UK economy.
"The further two-point drop in our measure on major purchases suggests more challenges in the near future at least for the retail sector.
"The biggest change is a sudden drop in the motivation to save money – this is down by eight points – and represents the largest monthly drop in our savings measure since after the Brexit referendum in June 2016.”