Consumer confidence increases in December

Consumer confidence has risen three points this month, according to the latest figures from GfK’s Consumer Confidence Index.

Consumer confidence now stands at -11, after an increase of 4 measures and decrease of 1 measure so far this month. 

The first index, which measures changes in personal finances, decreased by 3 points in December to -3, two points lower than December 2018.

However, the forecast for personal finances over the next 12 months has increased by 2 points to +3, which is 4 points higher than the same month last year.

The General Economic Situation index also increased by 3 points in the period, now sitting at -31.

Expectations for the General Economic Situation over the next year increased significantly, with a rise of seven points to -27. This is 11 points higher than December 2018.

Meanwhile, the Major Purchase Index increased 3 points to +3, 1 point higher than December 2018.

The Savings Index remained unchanged from last month at +18, though still had a 2 point increase year-on-year. 

Joe Staton, Client Strategy Director at GfK, said: “There’s a clear sense of a change in consumer sentiment this month. 

“The picture for the year to come is much stronger with a two-point improvement in how consumers view their personal financial prospects and a very healthy seven-point jump on how 

A great many people will be gazing into their crystal balls right now; ours indicates a rebound in confidence in 2020 based on renewed optimism and energy for a post-Brexit Britain.”