Another month post lockdown and the gradual relaxation of restrictions. The July Consumer Confidence Briefing shows a V shaped recovery in confidence, financial well- being and feelgood although the question is how long this V-shaped profile will be maintained as job losses rise.
The pandemic has certainly changed consumer behaviour and will continue to do so with financial resilience one of the current data features reflected in a multi-year high of the Household Finance Index and near record levels in savings confidence in contrast to weak levels of spending confidence.
A full analysis of the mood of the consumer is undertaken monthly in the Consumer Confidence Monitor with a Summer Review of the changing outlook and behaviour of UK consumers as ever more government measures impinge on their lives, to be published in August.
Download the full July report here: July 2020 Consumer Confidence Briefing