GfK Consumer Confidence Index August 2024

• The GfK Consumer Confidence Index remained unchanged at -13 in August, matching the previous month’s score.
• Three measures showed improvement and two declined, reflecting a mixed sentiment among UK consumers.

General economic situation

• Consumer perceptions of the general economic situation over the last 12 months dropped by three points to -35, though this remains 17 points higher than in August 2023.
• Expectations for the general economic situation over the next 12 months decreased by four points to -15, marking the first decline since February 2024, though still 15 points better than the previous year.

Personal finances

• The personal finances index over the past year increased by one point to -7, eight points higher than in August 2023.
• Projections for personal finances over the next 12 months improved by three points to +6, nine points above the same period last year. 

Major purchases

• The Major Purchase Index rose by three points to -13, indicating a more positive outlook for high-value purchases than the previous year, when the index was 11 points lower.

Savings Index (not included in the overall measure)

• The Savings Index increased by six points to +33, six points higher than the same period last year, suggesting that consumers increasingly view the current environment as favourable for saving.

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