Consumer confidence crept up in December as some of the concerns about the country’s economic situation eased. However, the overall confidence score remains firmly negative.
The GfK Consumer Confidence Index score for December 2019 was -11, up from -14 in November.
In December 2018, the score was -14.
“There’s a clear sense of a change in consumer sentiment this month”, Joe Staton, client strategy director at GfK, said.
”We haven’t seen such a robust increase in confidence about our economic future since the summer of 2016. Despite official warning signs about the flatlining of Britain’s economy, we know that record high employment and below target levels of inflation are helping to boost consumers’ expectations for the year ahead. Importantly, for the retail sector, we also have an upwards revision in our Major Purchase Index, a key figure during the remaining shopping days of 2019.
“The Overall Index Score has failed to break into positive territory for the past four years due to confusion and uncertainty about the future direction of the UK. A great many people will be gazing into their crystal balls right now; ours indicates a rebound in confidence in 2020 based on renewed optimism and energy for a post-Brexit Britain.”