23-05-2025
Consumer confidence up as fears of worldwide trade war recede
Consumers are more upbeat about their finances and the state of the economy this month after a de-escalation in global trade wars.
A monthly survey of household sentiment, compiled by GfK, the market research company, gained three points in May, partially reversing the drop reported last month at the height of uncertainty about US tariff policy.
The index hit minus 20 — a two-month high — and all five sub-components of the survey, which spoke to more than 2,000 households, rose this month. Consumers reported the biggest improvement in their personal financial situation over the next 12 months, with the index gaining five points into positive territory of two. There were also gains in sentiment about the prospects for the economy over the next year.
