GfK’s Index Hits -41 in June: Worst Since Records Began

  • UK consumer confidence hits record low in June
  • GfK’s Consumer Confidence Index decreased one point to -41
  • Personal finances index down by 23 points compared to June 2021
  • Forecast for general economic situation fell two points compared to June 2021
  • Consumer expectations for the economy dropped by 55 points from last year
  • Savings Index down 12 points compared to last year
  • Major Purchase Index remains flat at -35
  • Joe Staton: consumer mood darker than Covid pandemic, Brexit referendum, and 2008 financial crisis

The UK’s consumer confidence has reached a new record low, according to GfK’s Consumer Confidence Index. The index measuring personal finances over the last 12 months dropped one point to -23, while the forecast for the general economic situation fell two points to -65 compared to June 2021. Consumer expectations for the economy also decreased by one point to -57, a significant drop from the same month last year. The Savings Index is down 12 points compared to this time in 2021, and the Major Purchase Index remains flat at -35. Joe Staton, Client Strategy director, stated that the consumer mood is darker than during the Covid pandemic, Brexit referendum, and 2008 financial crisis.

Factuality Level: 10
Factuality Justification: The article provides accurate information from GfK’s Consumer Confidence Index, cites specific numbers for each measure, includes expert commentary, and does not include any irrelevant or sensational details.
Noise Level: 3
Noise Justification: The article provides relevant information about UK consumer confidence and its decline, but it could benefit from more analysis or context on why this is happening and what it means for the economy and people’s lives.
Financial Relevance: Yes
Financial Markets Impacted: UK consumer confidence, personal finances, and economic situation
Financial Rating Justification: The article discusses a decline in UK consumer confidence, which can impact spending habits and the overall economy, potentially affecting various financial markets and companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, but there is a significant decline in UK consumer confidence due to rising prices and potential recession.

Reported publicly: www.retailsector.co.uk