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Financial News: UK Consumer Sentiment Improves In September: Gfk

UK Consumer Sentiment Improves In September: Gfk

09/25/2020 - 04:53:00 (RTTNews)

(RTTNews) - UK consumer confidence improved in September despite fears of a second wave of coronavirus infections, survey data from the market research group Gfk showed Friday. The consumer confidence index rose unexpectedly to -25 in September from -27 in August. The score was forecast to remain at -27.

Among sub-components, three measures increased, one decreased and one remained unchanged in comparison to the August 21st announcement.

The indicator for past personal financial situation fell to -7 from -5 in August, while that for future financial situation held steady at 1.

Consumers' assessment of both past and future general economic situation improved in September. The past economic situation index gained one point to -61 and that for future situation climbed four points to -38.

Joe Staton, client strategy director at GfK, said, "Despite unfavourable double-dip economic headwinds and the threat of a second lockdown, we have seen an uptick for September as the Overall Index Score climbs to -25 from the near-historic low of -36 in our early June 'flash'."

"Consumers are as jittery as stock markets right now and as the UK government puts the brakes back on - and there may be more to come - only an unbridled optimist will bet on confidence climbing further," Staton added.

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