Key facts
- UK consumer confidence index held steady at -23 in June.
- Younger consumers (16-29) showed increased pessimism, with confidence dropping to -2.
British consumer confidence held at -23 in June, matching May's figure, according to a GfK survey. However, younger consumers showed increased pessimism about their personal finances and the economy, with confidence among 16-29 year olds dropping significantly.
The GfK survey provides a key indicator of consumer sentiment in the UK, which is crucial for understanding potential future consumer spending and its impact on economic growth. The divergence in confidence between younger and older demographics, alongside stagnant major purchase intentions, suggests potential headwinds for retail and other consumer-driven sectors.
British consumer confidence remained unchanged in June, according to GfK's latest survey, holding at -23, the same level as in May. This figure was marginally better than economists' forecasts, which had predicted a dip to -24.
Despite the stable headline figure, underlying sentiment showed signs of weakening. Confidence among younger consumers, aged 16 to 29, saw a significant drop of 11 points, reaching -2, its lowest point in two years. This indicates growing pessimism within this demographic regarding both the economy and their personal financial situations.
Consumers' views on their personal financial situation over the past 12 months declined by three points to -10, while expectations for the coming year remained static at -2. The propensity to make major purchases also showed no improvement, holding steady at -20, its joint lowest level since January 2025.
Regarding the broader economic outlook, households' assessment of the general economic situation over the past year fell by two points to -49. However, their outlook for the coming 12 months saw a slight improvement, rising by two points to -36.
The GfK survey, which gauges consumer sentiment, was conducted between May 29 and June 10, with 2,003 responses collected.