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<Econ> UK May GfK Consumer Confidence Index Rebounds to -23, Beats Forecast
Market research firm GfK announced that the UK May GfK Consumer Confidence Index rebounded to -23 from the previous reading of -25, which was the lowest level since October 2023, a...
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<Econ> UK May GfK Consumer Confidence Index Rebounds to -23, Beats Forecast
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Market research firm GfK announced that the UK May GfK Consumer Confidence Index rebounded to -23 from the previous reading of -25, which was the lowest level since October 2023, and was better than market expectations for a further decline to -28.

Neil Bellamy, Consumer Insights Director at GfK, said the latest data is unlikely to reflect a turning point. Although UK inflation may have eased in April, price pressures are expected to rise again, while uncertainty over interest rates persists. The May data is unlikely to mark the beginning of a sustained improvement.

The indicator for major purchases fell to -20 from the previous -18, the lowest level since January 2025, with lower-income consumers showing greater reluctance toward big-ticket spending. (da/u)

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