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GfK Says UK Consumer Confidence Stays at Minus 23 as Young Adults Weaken
GfK said confidence among 16- to 29-year-olds fell 11 points to minus 2, the lowest level in two years.
- GfK reported the Consumer Confidence Index remained at minus 23 in June, with no demographic groups holding a positive score, including higher-income households earning £50,000 or more.
- Confidence among 16-29-year-olds plunged 11 points over the past month to minus two, the lowest level in two years for a traditionally optimistic demographic group.
- The major purchase index remained at minus 20, reflecting continued consumer hesitation, while measures of personal finances and the economy over the previous 12 months both fell slightly.
- Neil Bellamy, GfK consumer insights director, said the decline reflects "the sense that things have been extremely tough over the last year for so many." The data reveals rapid deterioration among younger adults.
- Expectations for the wider economy rose slightly to minus 36, yet sentiment remains subdued and vulnerable to further economic or political uncertainty, signaling fragility ahead.
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Evening Standard+6 Reposted by 6 other sources
Consumer confidence plunges among younger adults
GfK’s long-running Consumer Confidence Index remained unchanged at an overall score of minus 23 in June.
·London, United Kingdom
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Consumer confidence steady as Brits brace for tougher times, GfK survey shows
British consumer confidence held steady in June but younger people turned more pessimistic about the economy and their personal financial situation against a backdrop of political uncertainty, a long-running survey showed on Friday (June 19).The survey also showed households' assessment of the economy over the past year deteriorated further, although expectations for the coming 12 months improved modestly.GfK's monthly Consumer Confidence Index …
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Coverage Details
Total News Sources13
Leaning Left4Leaning Right0Center2Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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