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Financial News: UK Consumer Sentiment Strengthens Despite Brexit Uncertain

UK Consumer Sentiment Strengthens Despite Brexit Uncertainty

05/31/2019 - 00:46:00 (RTTNews)

(RTTNews) - UK consumer confidence improved in May despite Brexit related uncertainties, survey data from market research group GfK showed Friday.

The consumer sentiment index rose to -10 from -13 in April. The expected score was -12.

Four measures increased and one remained unchanged in May. The index measuring changes in personal finances during the last 12 months rose to +3 from -1.

The forecast for personal finances over the next 12 months also increased by five points to +5.

The measure for the general economic situation of the country over the last year remained the same, at -30.

Expectations for the general economic situation over the next 12 months climbed five points to -29 and the major purchase index gained two points to +1 in May 2019.

"Despite a backdrop of Brexit-related change and complexity, and price rises for most household bills in April, consumers have managed a seasonal spring in their step with a three-point uptick in consumer confidence this month," Joe Staton, client strategy director at GfK, said.

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