August 2017 Consumer Confidence Briefing


Retail Banking

John Gilbert

John Gilbert

Chief Executive


Customer Loyalty

The monthly UK Consumer Confidence Barometer (CCB) undertaken by GfK on behalf of the European Commission* is 2 points up in August at-10. As in 2016 the July measure reflected an election result; the August measure in 2016 was up 5 points on July 2016 ( also-12) at -7.

Confidence is up in 4 of the 6 regions on July. Biggest gain is in Scotland (6 points better at -16); elsewhere sentiment is up 4 points in the South at -5, in the North 3 points up at -15, and in the Midlands, up 2 points to -9. In Wales confidence is unchanged at -18, but collapsed by 28 points in Northern Ireland to -32 where the border issue of what Brexit means is creating great uncertainty.

Of the 5 measures comprising the headline measure:
· The financial situation of households over the past 12 months is 4 points higher at +2 compared to July, and 2 points up on a year ago
· The expected financial situation of households over the next 12 months is 3 points better on the month at +5 and 1 point above a year ago (+4)
· The general economic situation measure over the past 12 months edged up 1 point to -30 compared to July, but is 7 points down on August 2016 (-23)
· The general economic situation measure in the coming 12 months also edged 1 point higher on the month to -27, but is 5 points down 12 months ago (-22)
· The measure of consumer sentiment to making major purchases in the current economic situation is 1 point up on the month at zero but 7 points below August 2016 (+7)

You can see the full briefing document by downloading the PDF.

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