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.
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.
- 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.
- 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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