GfK’s long-running Consumer Confidence Index was unchanged at -23 in June. One measure was up, two were down and two were the same, compared to last month’s announcement. The Major Purchase Index stayed at -20, down four points YoY, and unchanged MoM.
Neil Bellamy, consumer insights director at GfK, an NIQ Company, says: "Consumer confidence remains unchanged in June at -23. Views on personal finances going forward are flat at -2, and the backwards-looking measures of personal finances and the economy are both slightly down, reflecting the sense that things have been extremely tough over the last year for so many.
"The only value to increase is for the wider economy in the next 12 months, up two points from -38 to -36.
"The lack of movement in the headline figure is misleading as, beneath the surface, there are new signs that confidence is weakening. The biggest fall this month is among those aged 16-29, traditionally one of the most optimistic groups. Here confidence has dropped 11 points over the past month to -2, the lowest level seen for two years, driven by large falls in views on both their own personal finances and the wider economy.
"More broadly, there are now no demographic groups with a positive confidence score, including higher-income households earning £50,000 or more, who have slipped back into negative territory as of June. Confidence remains subdued and vulnerable to further economic or political uncertainty."
