GfK Consumer Confidence Index May 2021

GfK’s Consumer Confidence measure recovers to pre-lockdown levels in May, rising by six points to -9.
The rise was fuelled by growth in consumers perception of the general economic situation both over the last twelve months and the forward-looking twelve months.
Factors such as the re-opening of leisure and hospitality venues combined with the continuing success of the vaccination programme created a feel-good atmosphere amongst consumers. What’s more, a five-point rise in the major purchases index should provide a much-needed boost for retailers as well as supporting the overall recovery in the economy.

Source: GfK

General economic situation

Consumers’ measure of the general economic situation over the last 12 months rose by ten points to -48 in May compared to the previous month. This is seven points higher than in May 2020.

Expectations for the general economic situation over the coming 12 months made a considerable improvement of fifteen points in May sending the indicator into positive territory (+4), 58 points higher than in May 2020.

Personal finances

The personal finances index covering the last twelve months fell by one point to -4, unchanged from May 2020.

The forward-looking measure of personal finances remained unchanged against last month’s +10 for the third consecutive month. However, this is 58 points higher than the same month a year ago.

Major purchases

The major purchases index rose by five points to -7 in May 2021. This is 40 points higher than it was this month last year.

Savings Index (not included in the overall measure)

The savings index remained the same as last month at +22 in May. This is eight points higher than the same month a year ago.