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GfK Consumer Confidence Index May 2021

  • GfK’s Consumer Confidence measure recovers to pre-lockdown levels in May, rising by six points to -9. 
  • The rise was fuelled by growth in consumers perception of the general economic situation both over the last twelve months and the forward-looking twelve months. 
  • Factors such as the re-opening of leisure and hospitality venues combined with the continuing success of the vaccination programme created a feel-good atmosphere amongst consumers. What’s more, a five-point rise in the major purchases index should provide a much-needed boost for retailers as well as supporting the overall recovery in the economy.

Source: GfK

General economic situation

  • Consumers’ measure of the general economic situation over the last 12 months rose by ten points to -48 in May compared to the previous month. This is seven points higher than in May 2020.
  • Expectations for the general economic situation over the coming 12 months made a considerable improvement of fifteen points in May sending the indicator into positive territory (+4), 58 points higher than in May 2020.

Personal finances

  • The personal finances index covering the last twelve months fell by one point to -4, unchanged from May 2020. 
  • The forward-looking measure of personal finances remained unchanged against last month’s +10 for the third consecutive month. However, this is 58 points higher than the same month a year ago.

Major purchases

  • The major purchases index rose by five points to -7 in May 2021. This is 40 points higher than it was this month last year.

Savings Index (not included in the overall measure)

  • The savings index remained the same as last month at +22 in May. This is eight points higher than the same month a year ago.

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