United Kingdom: Consumer confidence hits highest reading since March 2020 in April
Consumer confidence came in at minus 15.0 in April, up from March’s minus 16.0. April’s result marked the strongest sentiment since March 2020.
The uptick came on the back of an improvement in consumers’ views of the general economic situation over the next 12 months. In contrast, views of their financial situation over the next 12 months were unchanged, while consumers became less willing to make major purchases.
Regarding the economic implications of April’s reading, Joe Staton, GfK’s client strategy director, stated:
“This clear trend of growing confidence reflects the forecast of a rebound for the UK’s economy during the second half of the year. […] there’s every chance that, as the recovery gains momentum and the numbers get stronger, confident consumers will continue to spend and drive the wheels of UK finances into the summer and beyond.”