Post-Brexit Boost in Personal Finance and Major Purchase Index
- Consumer confidence increased by two points in July
- GFK’s Consumer Confidence Index shows an overall score of -11 for the month
- Personal finance situation for next 12 months improved by +5
- Major purchase index increased six points to +4
- Expectations for general economic situation over next 12 months up one point to -32
- Savings index grew by +6, up 16 points from last year’s July
- Joe Staton credits low interest rates, day-to-day inflation, and a strong labor market for the boost in confidence
According to GFK’s Consumer Confidence Index, consumer confidence has increased by two points in July, reaching an overall score of -11. The personal finance situation for the next 12 months improved by five points, matching the same period last year. The major purchase index saw a six-point increase to +4, six points higher than the previous year. Expectations for the general economic situation over the next 12 months rose one point but remain six points lower compared to last year. The savings index experienced growth of six points, up 16 from July of last year. Joe Staton, client strategy director at GfK, attributes this confidence to factors such as low interest rates, day-to-day inflation, and a robust labor market. He also notes the impact on consumer spending, which contributes to economic growth and stable retail sales figures.
Factuality Level: 10
Factuality Justification: The article provides accurate information from the GFK’s Consumer Confidence Index, presents relevant data on various aspects such as personal finance situation, major purchase index, and expectations for the general economic situation, and includes a quote from an expert to support the findings.
Noise Level: 3
Noise Justification: The article provides relevant information about the GFK’s Consumer Confidence Index and its components, such as personal finance situation, major purchase index, and expectations for the general economic situation. It also includes a quote from an expert to support the findings. However, it could benefit from more context or analysis on how these changes might impact various sectors of the economy or society.
Financial Relevance: Yes
Financial Markets Impacted: Consumer confidence, personal finance situation, major purchase index, savings index, labour market, interest rates, inflation, retail sales
Financial Rating Justification: The article discusses consumer confidence, which can impact spending and retail sales, affecting various financial aspects such as the labour market, interest rates, inflation, and savings. It also mentions the Major Purchase Index, which reflects consumer behavior in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text.
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