Consumer confidence holds steady despite mounting job losses

Coronavirus social distancing queue

Consumer confidence held its position in July as shoppers’ trepidation about the economy was offset by increased optimism in their personal finances.

Shopper sentiment registered a score of -27 this month, according to the GfK Consumer Confidence Index, up three points from the previous month but unchanged from the flash poll taken earlier in July.

Consumer confidence fell on two measures in comparison with the temperature check taken at the beginning of the month – down one point in relation to the economy over the past year to -61 and down one point on their inclination to make major purchases to -26.

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