GfK Consumer Confidence Index August 2022

Headlines:

• GfK’s Consumer Confidence Index dropped to a new record low in August, falling three points to -44. 
• All five sub-measures were down during the month, reflecting acute concerns around the unfolding cost of living crisis and bleak economic prospects for the year ahead.

General economic situation 

• Consumers’ measure of the general economic situation over the last 12 months fell two points to -68 in August. This is 26 points lower than the same month a year ago. 

• Expectations for the general economic situation over the coming 12 months deteriorated, dropping three points to -60. This is 54 points lower than in August 2021.

Personal finances 

• The personal finances index covering the last twelve months fell two points to -25 in August, 25 points worse than a year ago. 

• The forward-looking measure for personal finances over the next twelve months decreased five points to -31, which is 42 points lower than last August.

Major purchases

• After an unexpected rise in July, the major purchases index fell back again in August, dropping four points to -38. This is 35 points lower than the same month a year ago.

Savings Index (not included in the overall measure)

• As interest rates continue to rise, consumers’ propensity to save was up five points in August, with the savings index coming in at +18. This is 7 points lower than a year ago.

Back to Retail Economic News