The monthly UK Consumer Confidence Barometer (CCB), undertaken by GfK on behalf of the European Commission*, plummeted by 25 points to -34 in April following the Covid-19 lockdown.
Confidence fell in all 6 UK regions. Confidence collapsed most in the North, down 29 points to -37. In the South confidence slumped by 27 points to -33 and in Wales confidence is 24 points lower at -39 on the month.
Lowest fall is in Northern Ireland, down 13 points toApril 2020 Consumer Confidence Briefing -27 while in the Midlands (-33) and in Scotland (-34) sentiment is down by 20 and 21 points respectively.
Of the 5 sub-measures comprising the headline measure:
- The financial situation of households over the past 12 months is 6 points down at -4 on the month and 3 points lower than a year ago
- The expected financial situation of households over the next 12 months is 17 points down at -14 and 14 points below a year ago (0)
- The general economic situation measure over the past 12 months slumped by 21 points to -44 on the month and is 11 points lower than in April 2019 (-33)
- The general economic situation measure in the coming 12 months tumbled by 29 points compared to March to -56, down 22 points on April 2019 (-34)
- The measure of consumer sentiment to making major purchases in the current economic situation crashed by 50 points on the month to -52, down 51 points on April 2019 (-1)
The survey also asks other questions about spending and saving. Expected spending on major purchases (such as furniture or electrical goods) in the next 12 months compared with the previous 12 months slumped by 25 points to -34 (-11, April 2019).
Overall spending confidence on major purchases of household goods declined 74 points on 12 months ago..
Download the full report here: April 2020 Consumer Confidence Briefing