GfK Consumer Confidence Index August 2020
GfK’s Consumer Confidence measure remained at -27 in August, unchanged from the previous reading but almost double the decline recorded a year ago. Within the index, three measures decreased and two increased.
The end to the furlough scheme in October is increasing fears over job security and weighing on consumer sentiment. As a result, we are unlikely to see any improvement in consumer sentiment in the near term with unemployment forecast to rise sharply before the end of the year.
General economic situation
- Consumers’ perceptions of the general economic situation over the last 12-months fell one point to -62, some 28 points lower than in August 2019.
- Expectations for the general economic situation over the next 12 months also fell marginally, down one point to -42, 4 points down from August 2019.
- The backwards-looking personal finances component fell one point to -5 while the forward-looking measure reported a one-point rise to +1.
- The major purchases index rose one point to -25 in August, down 26 points from August 2019.
Savings Index (not included in the overall measure)
The savings index was unchanged in August at +21.
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