25 July 2024, 11:36
By Furniture News Dec 15, 2023

December sees encouraging growth in consumer confidence

GfK’s long-running Consumer Confidence Index increased two points to -22 in December.

All five measures were up in comparison to last month’s announcement. The Major Purchase Index was up one point to -23 (up 11 points YoY).

Joe Staton, client strategy director, GfK, says: “Against the backdrop of flatlining economic growth, interest rates at a 15-year high, and price rises potentially eroding disposable income for years to come, the Consumer Confidence Index shows a modest improvement this month with gains across all key measures.

"Although the headline figure of -22 means the nation’s confidence is still firmly in negative territory, optimism for our personal finances for the next 12 months shows a notable recovery from the depressed -29 reported this time last year. Recovery in this number is important, as it best reflects household financial optimism and control over personal budgets. Despite the severe cost of living crisis still impacting most households, this slow but persistent movement towards positive territory for the personal finance measure looking ahead is an encouraging sign for the year to come.”

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