GfK’s Index Shows Improvement in Personal Finances and Economic Outlook
- UK consumer confidence up four points in September
- GfK’s Consumer Confidence Index increased to -21
- Inflation figures falling, wages growing, and high interest rates contribute to the increase
- Personal finances index up two points at -13
- General economic situation index up five points to -47
- Expectations for general economic situation in next 12 months increased by six points to -30
- Major Purchase Index up four points to -20
- Savings Index unchanged at +27
- Consumer confidence best since January 2022
- Cost-of-living crisis still impacting households
The GfK Consumer Confidence Index has increased four points to -21 in September, driven by falling inflation figures, wage growth, and high interest rates. The personal finances index rose two points to -13, while the general economic situation index for the past year improved five points to -47. Expectations for the economy over the next 12 months increased six points to -30. The Major Purchase Index is up four points at -20, and the Savings Index remains unchanged at +27. Despite these improvements, consumer confidence remains impacted by the cost-of-living crisis.
Factuality Level: 10
Factuality Justification: The article provides accurate information about GfK’s Consumer Confidence Index, inflation figures, wages, interest rates, and their impact on consumer confidence in the UK. It also includes relevant quotes from Joe Staton, Client Strategy Director at GfK, to provide context and perspective on the situation.
Noise Level: 3
Noise Justification: The article provides relevant information about the Consumer Confidence Index and its changes in various aspects, as well as expert commentary on the current economic situation. It does not contain irrelevant or misleading information, and stays focused on the topic without diving into unrelated territories. The article also supports its claims with data from GfK’s indexes. However, it could benefit from more in-depth analysis of the factors contributing to consumer confidence and potential long-term consequences.
Financial Relevance: Yes
Financial Markets Impacted: UK retailers and financial markets
Financial Rating Justification: The article discusses changes in consumer confidence, inflation, wages, interest rates, and their impact on personal finances and the UK economy, which can affect spending habits and thus impact retailers and financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
www.retailsector.co.uk