Pre-Christmas boost to consumer confidence

UK – Optimism for the economy has increased for the year ahead, according to the GfK Consumer Confidence Index. 

Oxford Street at Christmas

The overall index increased by three points for December to -11, although it remained firmly in negative territory, as it has done for four years due to ongoing uncertainty surrounding Brexit.  

Expectations for the country’s general economic situation over the next 12 months increased seven points to -27 – this is 11 points higher than December 2018. 

The forecast for personal finances has also increased – the December score is up two points to +3 – as did the Major Purchase Index, which tracks whether people think it is a good time to be spending money on expensive items.

Interviewing for the monthly barometer was conducted before the general election, between 2nd and 11th December.

Joe Staton, client strategy director at GfK, said: “There’s a clear sense of a change in consumer sentiment this month. The picture for the year to come is much stronger with a two-point improvement in how consumers view their personal financial prospects and a very healthy seven-point jump on how they see the wider economy next year.”

Staton added the index indicates “a rebound in confidence in 2020 based on renewed optimism and energy for a post-Brexit Britain”.

The UK Consumer Confidence Barometer survey is conducted by GfK on behalf of the European Commission.

We hope you enjoyed this article.
Research Live is published by MRS.

The Market Research Society (MRS) exists to promote and protect the research sector, showcasing how research delivers impact for businesses and government.

Members of MRS enjoy many benefits including tailoured policy guidance, discounts on training and conferences, and access to member-only content.

For example, there's an archive of winning case studies from over a decade of MRS Awards.

Find out more about the benefits of joining MRS here.

0 Comments

Display name

Email

Join the discussion

Newsletter
Stay connected with the latest insights and trends...
Sign Up
Latest From MRS

Our latest training courses

Our new 2025 training programme is now launched as part of the development offered within the MRS Global Insight Academy

See all training

Specialist conferences

Our one-day conferences cover topics including CX and UX, Semiotics, B2B, Finance, AI and Leaders' Forums.

See all conferences

MRS reports on AI

MRS has published a three-part series on how generative AI is impacting the research sector, including synthetic respondents and challenges to adoption.

See the reports

Progress faster...
with MRS 
membership

Mentoring

CPD/recognition

Webinars

Codeline

Discounts