GfK’s Consumer Confidence Index was up two points to -17 in December. All measures were up compared to last month’s announcement. The Major Purchase Index went up by four points to -11, up five points YoY.
Neil Bellamy, consumer insights director at GfK, an NIQ Company, says: “It’s tempting to see festive cheer in December’s two-point improvement in consumer confidence. Are we seeing a sigh of relief that the Autumn Budget wasn’t as bad as most had feared? All five measures are up this month led by a four-point jump in major purchase intentions. This is a surprise finding for the UK high street because it contrasts with the Black Friday sales slump we reported on earlier this month. Have people decided to spend on Christmas regardless, and worry about 2026 later?
"However, looking at the full year, the December headline score of -17 is the same as 12 months ago, and on that basis 2025 has been a year of no progress. UK households still face cost of living pressures, despite the recent softening in inflation, along with rising economic uncertainty, and those conditions result in weaker consumer confidence. Sadly, consumers resemble a family on a festive winter hike, crossing a boggy field – plodding along stoically, getting stuck in the mud and hoping that easier conditions are not far off.”
