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GfK Consumer Confidence Index December 2020

  • GfK’s Consumer Confidence measure improved by seven points to -26 in December, this is 11 points lower than a year ago. All five measures within the index increased compared to the previous month.
  • Surprisingly, we are closing 2020 on a brighter note. The overall rise in the index was boosted by the rollout of the UK’s COVID-19 vaccine programme with expectations for the economy improving markedly during the month.
  • What's more, a boost to consumers perceptions about making major purchases, which rose above the level recorded in the same month a year ago, bodes well for a strong performance in the final month of the year.

Source: GfK

General economic situation

  • Consumers’ perceptions of the general economic situation over the last 12 months increased by 2 points to -65, this is 31 points lower than in December 2019. 
  • Similarly, expectations for the general economic situation over the next 12 months increased by a staggering 15 points to -35, albeit remains 27 points lower than December 2019.

Personal finances

  • The backwards-looking personal finances component rose by seven points to -9 while the forward-looking measure improved by eight points to +3, the only index in positive territory in the month of December.

Major purchases

  • The major purchases index rose by six points to -22 in December, this represents 3 points higher than in December 2019.

Savings Index (not included in the overall measure)

  • The savings index rose by 6 points to +17 in December. This is eighteen points higher than the same month a year ago.

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