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GfK Consumer Confidence - Flash report

Survey period: 20th - 26th April

A second flash survey by GfK on the impact of Covid-19 on consumer confidence saw its headline confidence measure rise one point to -33 compared with the previous two weeks. This remains six points higher than the decline reported during the financial crisis in July 2008.

Within the index, three measures increased, one decreased and one remained unchanged.

Interestingly, there was a slight uptick in the major purchases index which rose three points to -49, perhaps an indication of some pent-up demand with non-essential shops having been closed since 23rd March.

That said, there was a sharp rise in the savings index (note, not included in the overall measure) indicative of the current economic climate with consumers perceptions about the economy and their personal finances remaining weak.

Source: GfK

General economic situation

Consumers’ perceptions of the general economic situation over the last 12-months fell 4 points to -48 between the middle and end of April.

Expectations for the general economic situation over the next 12 months improved, rising three points to -53.

Personal finances

The backwards-looking personal finances component was unchanged at -4 while the forward-looking measure rose three points to -11.

Major purchases

The major purchases index rose three points to -49 compared to mid-April. This is some 19 points lower than the level seen a year earlier.

Savings Index (not included in the overall measure)

The savings index rose sharply in the past two weeks, up nine points to +14.

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