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Consumer confidence grows in June

Consumer confidence improved in June after slumping to an all time low last July.

According to GfK NOP, consumer confidence in the general economy for next year has increased, and consumers expect their personal financial situation to improve.

GfK NOP’s overall index score increased to -25, nine points higher than this time last year and 14 points higher than its all time low.

Confidence in the general economic situation during the last 12 months rose by six points to -73 on the previous month. However this remains seven points lower than this time last year.

But confidence about the general economic situation for the next 12 months has risen by eight points to -8 - 37 points higher than June last year.

Rachel Joy in GfK NOP’s Consumer Confidence team said: “After a pause last month, consumer confidence once more returned to growth and is now up 14 points from its all time low of last year.”

“However, confidence still remains fragile as uncertainty about the strength of any recovery and an increase in unemployment all mean that consumers remain wary. Indeed, there was an actual decline in those agreeing that now was a good time for any major purchases.”

 

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