UK Consumer Confidence Hits 6-Month High

2026-07-23 23:23 By Joshua Ferrer 1 min. read

The UK GfK Consumer Confidence Index rose to -17 in July 2026 from -23 in June, marking the highest level since January and the largest monthly improvement since November 2023.

The latest figure was well above market expectations of -21, driven by optimism surrounding Andy Burnham's appointment as prime minister, hopes for easing Middle East tensions at the start of the month, and a boost from the summer weather and the FIFA World Cup.

Households' assessment of the economy over the past year improved by 10 points to -39, the strongest reading since late 2024, while expectations for the next 12 months climbed 8 points to -28, the highest since October 2024.

Intentions to make major purchases also increased by 8 points to -12, the strongest level this year.

However, the survey was conducted before the renewed escalation in the Middle East, while GfK warned that sustaining the "Burnham bounce" will depend on the new government delivering on cost-of-living and economic growth challenges.



News Stream
UK Consumer Confidence Hits 6-Month High
The UK GfK Consumer Confidence Index rose to -17 in July 2026 from -23 in June, marking the highest level since January and the largest monthly improvement since November 2023. The latest figure was well above market expectations of -21, driven by optimism surrounding Andy Burnham's appointment as prime minister, hopes for easing Middle East tensions at the start of the month, and a boost from the summer weather and the FIFA World Cup. Households' assessment of the economy over the past year improved by 10 points to -39, the strongest reading since late 2024, while expectations for the next 12 months climbed 8 points to -28, the highest since October 2024. Intentions to make major purchases also increased by 8 points to -12, the strongest level this year. However, the survey was conducted before the renewed escalation in the Middle East, while GfK warned that sustaining the "Burnham bounce" will depend on the new government delivering on cost-of-living and economic growth challenges.
2026-07-23
UK Consumer Confidence Remains Subdued
The UK GfK Consumer Confidence Index held steady at -23 in June 2026, slightly above market expectations of -24 but unchanged from May. Despite the stable headline reading, GfK Consumer Insights Director Neil Bellamy warned that confidence is weakening beneath the surface as political uncertainty weighs on households. Sentiment among consumers aged 16 to 29 fell sharply by 11 points to -2, its weakest level in two years. Households also grew more pessimistic about their personal finances over the past year, with the gauge dropping three points to -10, while expectations for the year ahead remained subdued at -2. Meanwhile, intentions to make major purchases were unchanged at -20, matching the lowest level since January 2025, suggesting consumers remain cautious about discretionary spending. The survey also showed households' assessment of the economy over the past year deteriorated further, although expectations for the coming 12 months improved modestly.
2026-06-18
UK Consumer Sentiment Improves Slightly, Recovery Doubtful
The UK GfK Consumer Confidence Index edged up to -23 in May 2026 from -25 in the previous month, which had marked the lowest reading since October 2023 amid worries about the Iran war. The result defied market estimates of -28, suggesting households were slightly less pessimistic. Even so, GfK consumer insights director Neil Bellamy cautioned that the uptick was unlikely to mark a sustained recovery in sentiment. The savings measure dropped sharply, down 10 points, indicating many households are dipping into reserves to meet everyday expenses as living costs remain high. Meanwhile, the gauge tracking major purchase intentions slipped two points to -20, its lowest since January 2025, with lower-income groups especially reluctant to commit to big-ticket spending. Bellamy added that while inflation eased in April, price pressures are expected to re-emerge, and uncertainty over interest rates continues to weigh on confidence and spending plans.
2026-05-21