UK consumer confidence remains stable overall during the pandemic

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 21, 2020, 5:10 PM UTC

GfK conducted the Consumer Confidence Barometer, on behalf of the European Union, between 1 and 3 August 2020.

The Consumer Confidence Index score in the UK has remained the same in August as the previous month. The index has stayed at 27 in August, with three measures decreasing and two measures increasing in the past month.

The major purchase index - which is based on consumer opinion about whether the timing is right to make large purchases - increased by one point to 25 this month. But, it is still one point below August 2019.

The savings index, which was not included in the overall index score, remained the same as the last year at 21. Despite the increase in the major purchase index, “the economic headwinds are not favourable as we enter the key retailing months at the end of the year,” said GfK’s Joe Staton.

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