GFK’s Index Shows Mixed Results
- Consumer confidence increased by 3 points in May
- GFK’s Consumer Confidence Index shows overall score at -10
- Four measures improved, one remained the same
- General economic situation forecast for next 12 months up five points to -29
- Savings index increased by four points, now nine points higher than last year
- Joe Staton: ‘Consumers have a seasonal spring in their step’
- Brexit uncertainty and potential dark clouds ahead
According to GFK’s Consumer Confidence Index, consumer confidence increased by three points in May, reaching an overall score of -10. Four measures improved and one remained the same. The forecast for the general economic situation over the next 12 months rose five points to -29 but is still eight points lower than May 2018. The measure for the general economic situation during the last 12 months stayed the same at -30, six points lower than the previous year. The savings index saw a four-point increase, now nine points higher than this time last year. Joe Staton, client strategy director at GfK, commented: ‘Despite Brexit-related changes and rising household bills, consumers have shown a three-point uptick in confidence this month.’ He added, ‘With the government predicting modest growth, low inflation, and record employment rates, we may see more positive numbers soon. However, Brexit uncertainty and potential challenges ahead could impact consumer sentiment.’
Factuality Level: 8
Factuality Justification: The article provides accurate information from a reputable source (GFK’s Consumer Confidence Index), presents relevant data and quotes an expert opinion on the subject.
Noise Level: 2
Noise Justification: The article provides relevant information about consumer confidence and its factors, including Brexit, inflation, and unemployment. It also includes quotes from an expert to provide context and analysis. However, it could benefit from more in-depth exploration of the underlying causes and potential consequences of these trends.
Financial Relevance: Yes
Financial Markets Impacted: Consumer confidence, general economic situation, and savings index
Financial Rating Justification: The article discusses consumer confidence, which can impact spending habits and the overall economy. It also mentions the general economic situation over the last 12 months and the savings index, both of which have financial implications.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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