Slight boost in consumer confidence due to brighter outlook on economy

The overall index score increased two points to -18 as two measures increased and three measures were unchanged month-on-month, according to the GfK consumer confidence survey.

Consumer confidence in personal finances was unchanged over the past year at -7, but still three points better than June 2024.

The outlook for this index over the next 12 months remains the same at +2, making it two points worse than this time last year.

The general economic situation improved three points to -43 in the past year.  

The major purchase index was also the same as last month at -16, but seven points better than the same time last year.

GfK consumer insights director Neil Bellamy said: “Headline consumer confidence has improved marginally in June, rising two points to -18. This is driven by improvements in how consumers see the general economy, with scores up three points (looking at last year) and up by five points (looking at the next 12 months). 

“Consumers have been resolute in their views on their wallets, with June’s personal financial situation scores unchanged from May. Yet confidence is still fragile because the dark shadow of inflation is a day-to-day challenge for so many of us.

“With petrol prices set to rise in the coming weeks following the escalation of the conflict in the Middle East, and with ongoing uncertainty as to the full impact of tariffs, there is still much that could negatively impact consumers. With so much volatility, now is certainly not the time to hope for the proverbial ‘light at the end of the tunnel’.”