Consumer Confidence Edges Up in June

GfK’s latest Consumer Confidence Index showed a slight improvement in June, rising two points to -18. Of the five measures that make up the index, two moved higher while three held steady compared to May. The findings come from the Consumer Confidence Barometer (CCB), jointly produced by GfK and the Nuremberg Institute for Market Decisions (NIM) since October 2023.

Commenting on the results, Neil Bellamy, Consumer Insights Director at GfK, noted:
“Overall confidence among consumers has inched upwards in June, gaining two points to reach -18. This uplift is largely due to more optimistic views of the wider economy, with assessments of the past 12 months improving by three points and expectations for the year ahead up by five points.  However, households remain cautious about their own finances. Both backward- and forward-looking personal financial situation scores were unchanged from May. Inflation continues to weigh heavily on day-to-day life, and with petrol prices expected to climb following renewed conflict in the Middle East, alongside uncertainty around tariffs, there are still considerable pressures at play. In such a volatile climate, it is too early to expect a clear path back to sustained confidence.”