Confidence gains stall in February
February 26, 2024
A rising trend in consumer confidence for big ticket items has taken a knock according to retail anlaysts CfK.
February figures for the GfK Major Purchase Index which covers furnishing, flooring and appliances were down 5 points to minus 25.
This is the first fall in the Index since October and puts on hold the "exciting recovery" in confidence that GfK reported on in January following a three point gain.
The overall Consumer Confidence Index also dropped in February, by two points to minus 21.
Joe Staton, client strategy director at GfK, said: “There’s a mixture of bad news and good news for February. The bad news is that the improvement in the Overall Index Score seen over recent months stalled slightly in February due to a fall across most measures. However, the good news is that optimism for our personal financial situation for the next 12 months has not slipped back."
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