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United Kingdom Consumer Confidence August 2020

United Kingdom: Consumer confidence remains pessimistic in August

Consumer confidence was unchanged at July’s minus 27.0 in August. While consumers grew more downbeat about the general economy, they became more willing to make major purchases, and more optimistic about their personal financial situation ahead.

Joe Staton, GfK’s client strategy director, was downbeat on the near-term outlook:

“Employment is now the big issue because the pandemic has ended years of job security. Yes, discounted dinners have proved a winner with hungry consumers across the country this month, but it’s difficult to see significantly increased appetite for other types of spending for now […] economic headwinds are not favourable as we enter the key retailing months at the end of the year.”

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