london skyline

United Kingdom Consumer Confidence May 2020

United Kingdom: Consumers remains deeply pessimistic in May

The GfK consumer confidence indicator registered minus 34 in May, unchanged from April’s reading and marking the joint-lowest rate since 2009.

Consumers remained deeply pessimistic regarding the general economic outlook and their willingness to make major purchases, but were less gloomy about their future personal financial situation.

According to Joe Staton, GfK’s client strategy director:

“With unemployment claims rising by the highest rate on record and warnings of a recession and possible tax hikes, the damage done by the coronavirus pandemic to the UK economic landscape has been laid bare. The lower scores we have registered during May for perceptions of the general economic situation reflect this, and the Government is dampening down expectations of an immediate economic bounce back. […] Confidence will remain fragile for some time and the possibility of another spike in Covid-19 cases as we adapt to the ‘new normal’ is an obvious danger.”

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 X Download Fullscreen