london skyline

United Kingdom Consumer Confidence February 2020

United Kingdom: Consumer sentiment improves again in February

The GfK consumer confidence indicator registered minus 7 in February, up from minus 9 in January and marking an over one-year high. The uptick was likely linked to greater political certainty following the general elections. However, the index remained in negative territory, where it has been since April 2016, highlighting that consumers are broadly pessimistic.

In February, consumers grew more upbeat about the general economic situation and were more willing to make major purchases. Improving consumer confidence bodes well for private consumption in the first quarter.

According to Joe Staton, client strategy director at GfK: “Against a February backdrop of rising wages and house prices, low unemployment and stable inflation, we report another healthy uptick in consumer confidence this month – the third monthly increase in a row. […] Although the Index remains south of positive, the trajectory remains upwards. The only ‘known unknown’ is the potential impact of coronavirus on behaviour, confidence and spending patterns.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest