GfK’s Consumer Confidence Index increased two points to -25 for September. Three measures increased (including the Major Purchase Index , which rose four points to -21 (down 24 points YoY), one decreased and one stayed the same in comparison to August's measures.
Joe Staton, client strategy director at GfK, says: “Despite unfavourable double-dip economic headwinds and the threat of a second lockdown, we report an uptick for September as the Overall Index Score climbs to -25 from the near-historic low of -36 in our early June ‘flash’.
"This means consumer confidence has crept forward for nearly four months now – but can this fragile improvement last, or is it about to come to a grinding halt? 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.”