Vaccine promises do little to boost consumer confidence

Older-lady-receiving-vaccine

Consumer confidence dropped at the beginning of the year, despite promises that the vaccine would bring life back to normal.

The GfK consumer confidence Index dropped two points in January to -28 as the country once again found itself in lockdown and the UK exited the EU.

Although the vaccination programme has been under way since the beginning of the year, consumer sentiment about the general economic situation for 2021 declined nine points to -44, while feelings about the previous year were down two points to -67.

The survey found that consumers’ confidence in their personal finances for the next 12 months also fell by one point, driven by a drop in the major purchase index, which was down two points from December.

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