Published on January 31st, 2020 | by The GC Team0
Consumer confidence gets “mini Boris-bounce”
Consumer confidence gained an encouraging lift in January, marking two consecutive months of improvement.
According to researcher GfK, public sentiment rose two points in the first month of 2020, with improvements in consumer assessments of their personal finances and the general UK economy. Although still in negative territory, at -9, GfK said it expects a return to positive headline scores soon.
Looking at the 12 months ahead, expectations for personal finances increased three points to +6, five points higher than January 2019, while those for the general economic situation increased three points to -24, which is 15 points higher than the same month last year.
Joe Staton, Client Strategy Director at GfK, said: “The first month of 2020 has given us a mini Boris-bounce.”
The only downward score was recorded by the Major Purchase Index, which Staton said reflected January’s “seasonal post-Christmas empty-wallet feeling”, while noting the further impact in the longer-term contraction and sluggishness experienced across the retail sector.
“However,” he said, referring to consumer confidence on the whole, “if current trends continue, we’d expect a return to positive headline scores soon.”