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GfK Consumer Confidence Index February 2021

  • GfK’s Consumer Confidence measure improved by five points in February to -23 – the strongest rise for a year but still 16 points lower than a year earlier.
  • All measures within the index improved compared to the previous month, except for perceptions around personal finances over the past year.
  • Whilst the rise in confidence is encouraging, we tread carefully into 2021 with rising unemployment and inflation likely to weigh on sentiment in coming months.
  • Retailers can take some comfort however from the five-point improvement in consumers’ willingness to make major purchases, supported by a rise in perceptions around personal finances going forward.

Source: GfK

General economic situation

  • Consumers’ perceptions of the general economic situation over the last 12 months increased by three points to -64 in February compared to the previous month. This is 41 points lower than in February 2020. 
  • Expectations for the general economic situation over the next 12 months improved markedly to -30, 14 points high than in January 2021 and just nine points lower than a year ago.

Personal finances

  • The personal finances component over the last twelve months was unchanged at -8 – seven points lower than a year ago.
  • The forward-looking measure increased by two points to +4, just two points lower than February 2020.

Major purchases

  • The major purchases index rose by five points to -19 in February, which represents a 25 point decline compared a year earlier.

Savings Index (not included in the overall measure)

  • The savings index increased by one point to +19 in February. This is one point lower than the same month a year ago.

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