Consumer confidence grows in November
The Consumer Confidence Index tracks attitudes to personal finances, the economy, major purchases and saving.
All measures tracked by GfK increased in November, compared with October’s research.
The index measuring changes in personal finances during the last year is up one point at -9 and the forecast for personal finances over the next 12 months grew by one point to -1. Both are higher than they were in November last year.
The measure for the general economic situation of the country during the last 12 months increased by three points to -39; this is 10 points higher than in November 2023.
Expectations for the general economic situation over the next 12 months are up two points at -26.
Neil Bellamy, consumer insights director, GfK, said: “There was evidence of nervousness in recent months as consumers contemplated the potentially worrying impact of the UK Budget at home, and even the implications of the US presidential election. But we have moved past those events now.”
The Major Purchase Index, which measures people’s attitudes towards whether it is a good time to be buying big-ticket items such as furniture or electrical goods, is up five points to -16; eight points higher than this time last year.
Bellamy added: “The biggest change this month is in major purchase intentions, an important measure that has jumped five points from -16 to -21 in the run-up to Black Friday next week. The other four measures, covering personal financial expectations and the wider economy, have registered small increases too. But while 2025 is just around the corner and the New Year often brings optimism, it’s too early to expect significant further improvements in the consumer mood. As recent data shows, inflation has yet to be tamed, people are still feeling acute cost-of-living pressures, and it will take time for the UK’s new government to deliver on its promise of ‘change’.”
This month’s survey was conducted among a sample of 2,001 individuals aged 16+ in the UK, between 30th October 30th and 15th November, 2024. Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population.

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