Latest news with #MajorPurchaseIndex
Fashion Network
25-07-2025
- Business
- Fashion Network
UK consumer confidence on hold in July could signal deeper concerns ahead
On the surface, there appears nothing to get excited about here. July's consumer confidence dipped one point to -19 while figures from GfK's wider long-running Index showed two measures were down, one was up and two were unchanged in comparison to last month's announcement. The holding pattern appears to reflect consumers 'are in a cautious wait-and-see mood', according to GfK's Consumer Insights director Neil Bellamy. But wait. He also added that 'some people may be sensing stormy conditions ahead', based on speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come… 'the news is worrying,' he said. And the importance here is that movement within its Savings Index was 'significant' this month 'because it does indeed suggest people are anxious'. It jumped seven points to +34 to reach the highest level since November 2007, revealing that those people who can put money aside 'are building contingency funds'. The index measuring changes in personal finances during the last year remained unchanged at -7, one point better than July 2024 and the forecast for personal finances over the next 12 months is also unchanged at +2, one point worse than this time last year. The measure for the general economic situation of the country during the last 12 months is down one point to -44, some 12 points worse than last July, and expectations for the general economic situation over the next 12 months dipped one point to -29, some18 points worse than July 2024. The Major Purchase Index is also up one point at -15, one point higher than this month last year.
Fashion Network
25-07-2025
- Business
- Fashion Network
UK consumer confidence on hold in July could signal deeper concerns ahead
On the surface, there appears nothing to get excited about here. July's consumer confidence dipped one point to -19 while figures from GfK's wider long-running Index showed two measures were down, one was up and two were unchanged in comparison to last month's announcement. The holding pattern appears to reflect consumers 'are in a cautious wait-and-see mood', according to GfK's Consumer Insights director Neil Bellamy. But wait. He also added that 'some people may be sensing stormy conditions ahead', based on speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come… 'the news is worrying,' he said. And the importance here is that movement within its Savings Index was 'significant' this month 'because it does indeed suggest people are anxious'. It jumped seven points to +34 to reach the highest level since November 2007, revealing that those people who can put money aside 'are building contingency funds'. The index measuring changes in personal finances during the last year remained unchanged at -7, one point better than July 2024 and the forecast for personal finances over the next 12 months is also unchanged at +2, one point worse than this time last year. The measure for the general economic situation of the country during the last 12 months is down one point to -44, some 12 points worse than last July, and expectations for the general economic situation over the next 12 months dipped one point to -29, some18 points worse than July 2024. The Major Purchase Index is also up one point at -15, one point higher than this month last year.
Fashion Network
25-07-2025
- Business
- Fashion Network
UK consumer confidence on hold in July could signal deeper concerns ahead
And the importance here is that movement within its Savings Index was 'significant' this month 'because it does indeed suggest people are anxious'. It jumped seven points to +34 to reach the highest level since November 2007, revealing that those people who can put money aside 'are building contingency funds'. The index measuring changes in personal finances during the last year remained unchanged at -7, one point better than July 2024 and the forecast for personal finances over the next 12 months is also unchanged at +2, one point worse than this time last year. The measure for the general economic situation of the country during the last 12 months is down one point to -44, some 12 points worse than last July, and expectations for the general economic situation over the next 12 months dipped one point to -29, some18 points worse than July 2024. The Major Purchase Index is also up one point at -15, one point higher than this month last year.
Fibre2Fashion
24-06-2025
- Business
- Fibre2Fashion
UK consumer confidence edges up in June, but inflation fears persist
Consumer confidence in UK showed modest improvement in June 2025. The overall index score rose by 2 points to -18, marking a gradual rebound from May's -20 and April's -23, though sentiment remains weaker than in June 2024 (-14), according to Gfk. Consumers' outlook on their personal financial situation held steady. Confidence regarding the past 12 months remained unchanged at -7, while expectations for the next 12 months stood at +2, showing no movement since May, as per the latest GfK Consumer Confidence Barometer powered by the Nuremberg Institute for Market Decisions (NIM). 'This is driven by improvements in how consumers see the general economy, with scores up three points (looking at last year) and up by five points (looking at the next 12 months). Consumers have been resolute in their views on their wallets with June's personal financial situation scores (past and future) unchanged from May,' said Neil Bellamy, consumer insights director at GfK, an NIQ Company . UK consumer confidence rose modestly in June 2025, with the overall index up 2 points to -18, as per GfK. While views on personal finances stayed flat, perceptions of the general economy improved. However, inflation, rising petrol prices, and trade uncertainties continue to weigh on sentiment. The Major Purchase Index remained steady, while the savings index dipped slightly. 'Yet confidence is still fragile because the dark shadow of inflation is a day-to-day challenge for so many of us. With petrol prices set to rise in the coming weeks following the escalation of the conflict in the Middle East, and with ongoing uncertainty as to the full impact of tariffs, there is still much that could negatively impact consumers. With so much volatility, now is certainly not the time to hope for the proverbial 'light at the end of the tunnel,' added Bellamy. Public perception of the general economic situation showed clearer signs of improvement. The view of the past 12 months improved to -43 (up 3 points), while expectations for the coming year rose to -28 (up 5 points). However, both figures remain well below June 2024 levels of -32 and -11, respectively. The Major Purchase Index, which gauges consumers' willingness to make large purchases, held steady at -16. Although better than April's -19, it remains weaker than June 2024's -23. Meanwhile, the savings index slipped by 1 point to 27, continuing its decline from April's 30, though still higher than the 22 recorded a year ago. The data suggest that while confidence is inching upwards, persistent concerns over inflation, geopolitical tensions, and trade-related uncertainties continue to weigh heavily on UK households. Fibre2Fashion News Desk (SG)
Fashion Network
20-06-2025
- Business
- Fashion Network
UK consumer confidence may have inched up in June but concerns linger over inflation
UK consumers are feeling slightly better about the economy in June, although confidence is still fragile and concerns linger about the contents of their wallets. That's the overview from data company GfK with its long-running Consumer Confidence Index increasing by two points to -18 this month. Another two of its measures were up and three were unchanged compared to last month's announcement. The index measuring changes in personal finances during the last year is unchanged at -7, three points better than June 2024, while the forecast for personal finances over the next 12 months is also unchanged at +2, two points worse than this time last year. The measure for the general economic situation of the country during the last 12 months is up three points to -43;, some 11 points worse than last June and expectations for the general economic situation over the next 12 months rose five points to -28, but still 17 points worse than June 2024. The Major Purchase Index remains unchanged at -16, seven points better than this month last year, while the Savings Index dropped a further point to +27 in June, five points better than this time last year. Neil Bellamy, Consumer Insights director at GfK, noted that overall confidence 'remains fragile … because the dark shadow of inflation is a day-to-day challenge for so many of us. 'With petrol prices set to rise in the coming weeks following the escalation of the conflict in the Middle East, and with ongoing uncertainty as to the full impact of tariffs, there is still much that could negatively impact consumers. With so much volatility, now is certainly not the time to hope for the proverbial 'light at the end of the tunnel'.'
