United Kingdom Consumer Confidence December 2020

United Kingdom

United Kingdom: Consumer confidence picks up in December on positive vaccine news

December 18, 2020

Consumer confidence came in at minus 26.0 in December, up notably from November's minus 33.0 and marking the strongest improvement in eight years.

The uptick came on the back of an improvement in consumers’ views on the general economic situation over the next 12 months. In addition, consumers’ views on their financial situation over the next 12 months improved.

On the reading, Joe Staton, GfK’s client strategy director, commented:

“Consumers are looking for good news and they have found it in the form of the UK’s Covid-19 vaccination programme getting underway, which has lifted the mood pre-Christmas 2020.”

FocusEconomics Consensus Forecast panelists see private consumption expanding 5.9% in 2021, which is down 1.4 percentage points from last month’s forecast, before rising 4.8% in 2022.


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United Kingdom Consumer Confidence Chart

United Kingdom Consumer Confidence December 20 20

Note: GfK Consumer Confidence Index.
Source: The GfK Group.

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