Consumers restrain & # 39; no-deal fears & # 39; and & # 39; incessant Brexit noise & # 39; if the trust returns in August
- The GfK Consumer Confidence index jumps to -7 in August with three points
- It comes despite the great concern and uncertainty surrounding the Brexit
- The most important purchase index rose by 8 points – good news for big ticket sales
Emily Hardy because this is money
The mood for shopping and spending improved last month, according to the GFK Consumer Confidence Index, which shows a three-point rebound from -10 in July to -7 in August.
Shopping sentiment, which has been negative since March 2016, struck despite the growing concern that the UK could crash the UK without a deal.
"Consumers are undoubtedly aware of the incessant Brexit sound, the core debate about whether or not # 39; No deal is better than a bad deal, the associated threats, warnings and insecurities, the wild hope and dark fears, and the daily ups and downs, "said Joe Staton, GFC's Customer Strategy Director.
Consumers feel a bit better about spending, according to GfK, despite the Brexit chatter & # 39;
& # 39; But do consumers put their hands to their ears and say quietly: do we just wait and see? We are only a few months away from the Brexit crisis, but there is not (yet) a crash in consumer confidence.
Yes, the core index continues to move in negative territory, but Armageddon seems a distant future. & # 39;
GfK & # 39; s so-called & # 39; major purchase index & # 39; – an indicator of how shoppers feel about splashing on expensive big-ticket & # 39; items – jumped eight points last month and returned to positive area at +6.
The sales of Carpetright fell in early 2018 in line with declining visitor numbers and confidence
This is particularly good for furniture traders who have been hit by relative economic uncertainty in two years.
Flooring giant Carpetright fell to a loss earlier this year and is undergoing urgent restructuring as sales and visitor numbers plummeted.
Meanwhile, Multiyork and Feather & Black locked themselves into the administration and accused them of weakened consumer confidence for their misery.
GfK said that the index that measures changes in personal finances during the past 12 months increased three points to +4, two points higher than this time last year.
And the yardstick for the general economic situation increased by two points, but remained low at -26.
Although the overall index is currently measuring -7, GfK points out that this is a far cry from the worrying -39 & # 39; that was recorded during the financial crisis in July 2008.