United Kingdom: Consumer confidence rises in June
Consumer confidence rose to minus 24.0 in June from May’s minus 27.0. June’s result marked the best performance since January 2022. However, the index remained below the 0-point threshold, signaling pessimism among consumers.
June’s reading was driven by improvements in indicators for personal financial conditions and the general economic outlook, although consumers grew less willing to make major purchases.
Joe Staton, client strategy director at GfK said:
“Consumers are showing remarkable resilience in the face of inflation that is currently refusing to yield. This is the best showing for the Overall Index Score for the past 17 months and, if consumers continue to weather the current economic storm, then this will provide a firm foundation for getting back to growth.”