GfK Survey: UK Consumer Confidence Unchanged in June as Young Adults Turn Gloomy
June 2024 UK Consumer Confidence Insights
LONDON, June 19 (Reuters) - British consumer confidence held steady in June but younger people turned more pessimistic about the economy and their personal financial situation against a backdrop of political uncertainty, a long-running survey showed on Friday.
GfK Consumer Confidence Index Results
GfK's monthly Consumer Confidence Index held at -23 in June the same as in May, and marginally above economists' median forecast in a Reuters poll that had pointed to a fall to -24.
Analysis of Headline Figures
"The lack of movement in the headline figure is misleading as, beneath the surface, there are new signs that confidence is weakening," Neil Bellamy, GfK's consumer insights director, said.
Key Survey Findings
- Confidence among people aged between 16 and 29 dropped by 11 points to -2, the weakest in two years
- Consumers' assessment of their personal financial situation over the past 12 months fell by three points to -10 while their expectations for the coming year held at -2
- Intentions to make major purchases was unchanged at -20, its joint-lowest since January 2025
- Households' assessment of the general economic outlook for the past year fell by two points to -49, while their outlook for the coming 12 months rose by two points to -36
- The GfK survey was based on 2,003 responses between May 29 and June 10
Report Credits
(Reporting by Suban Abdulla; editing by David Milliken)
