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Published on April 26th, 2021 | by The GC Team

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Another gain for UK consumer confidence

Consumer confidence has continued to improve since early 2021, reflecting the forecast of a rebound for the UK economy during the second half of the year.

GfK’s Consumer Confidence Index rose one point to -15 in April, with the general economic situation in the next 12 months improving by six points to -11, building on the previous 13-point increase in March and 14-point jump in February. In April last year, the same measure was -56.

The measure for personal finances in the coming year has also continued to look promising, remaining at the strong +10 recorded in March.

While the pointers for the 12 months ahead indicate a positive outlook on the whole, Joe Staton, Client Strategy Director GfK, while welcoming the improvement in the consumer mood since January, said “the pandemic has hit household finances hard and, on the road ahead, we will still see potential concerns over new variants, rising inflation and the debt overhang.

“Nevertheless,” he added, “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.”

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