GfK’s Consumer Confidence Index increased one point to -15 in April. Two measures were up in comparison to the March 19th announcement, two measures were down (The Major Purchase Index decreased by one point to -12, 40 points higher YoY) and one was flat.
Joe Staton, client strategy director, GfK, says: “Confidence has edged up one point in April with consumers taking a more guarded view on the future. The picture for personal finances in the coming year remains strong at +10 and there is another big uptick in our view of the general economic situation in the next 12 months, with a six-point boost in April following the 13-point increase in March and the 14-point jump in February.
"This clear trend of growing confidence reflects the forecast of a rebound for our economy during the second half of the year. The improvement in the consumer mood since January is welcome but the pandemic has hit household finances hard and, on the road ahead, we will still see concerns over new variants, rising inflation and the debt overhang. Nevertheless, there’s every chance that as the recovery gains momentum and the numbers get stronger, confident consumers will continue to spend and drive the wheels of UK finances into the summer and beyond.”
