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UK GFK consumer confidence improves in May

Staff Writer |
UK consumer sentiment improved more-than-expected in May, reports said citing survey data from market research group GfK, on Thursday.

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The consumer sentiment index rose 2 points to -7 in May. The score was forecast to improve marginally to -8.

The survey revealed that consumers were more optimistic about their personal finances, while they remained downbeat about general economic situation.

The consumer confidence indicator has remained at zero or below for 29 consecutive months.

Joe Staton, client strategy director at GfK said, "When will the strong jobs market and rising real incomes, coupled with ongoing low interest rates and low levels of headline inflation, have an impact?"

Staton noted that tough trading conditions for Britain's hard-pressed retail sector continue to take their toll.

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