Skip to content

Entrepreneurs Panel

Jennie Johnson
Julie Meyer
Brian Hay
Richard O'Sullivan
Charlie Mullins
Steve Purdham
Jeremy Roberts
Laura Tenison
Debbie Pierce
Tony Caldeira
Michael Oliver
David Pollock

Consumer confidence picks up after Brexit vote falls

Consumer confidence rallied in August after recent falls on the back of the UK's vote to leave the EU.

The GfK Consumer Confidence Index rose by five points last month to reach minus seven. All seven sub-indices used to calculate the main score saw rises.

The index looking at consumers' personal financial situation over the last 12 months increased by one point, leaving it three lower than August 2015, while the index looking at the forecast for the next 12 months increased by four points.

Looking at the general economic situation over the past year, confidence increased by two points to minus 23 - although this was still 26 points lower than August 2015.

Expectations for the economy over the next 12 months increased by 11 points to minus 22 - 25 points lower year-on-year.

The index looking at whether now is a good time to make a major purchase increased by nine points to seven. This is 10 points lower than last August.

The savings index, however, was 16 points lower at minus 15. This is 17 points lower than August 2015.

Joe Staton, head of market dynamics at GfK, said: "We're reporting some recovery in the index this month as consumers settle into the new wait-and-see reality of a post-Brexit, pre-exit UK.

"The uptick in confidence is driven by good news from hard data, the combination of historic low interest rates matched with falling prices and high levels of employment. This can be seen in positive growth across all major measures including both our Personal and General Economic situation for the next 12-months and at seven points, the Major Purchase Index reflects strong retail figures.

"But more remarkable is the 16-point collapse in the Savings Index. We Brits are clearly determined to carry on shopping for today rather than saving for tomorrow."

  • Kathryn Parsons, co-founder of Decoded, started with little more than faith and determination, but four years later it’s grown into a global business. Ahead of her appearance at Accelerate 2015 in...

  • Author, writer and marketer Ryan Holiday on how entrepreneurs need to interpret failure.

  • Sue Vizard, business coach and author of Jump Start: The Start-up Book for Your Dream Business, looks at some of the questions solo entrepreneurs should ask themselves.

  • Ian Wright, founder and chief executive of, is bringing together SMEs and NEDs - without the hefty recruitment fees.

  • Former professional golfer turned entrepreneur Colin Stevens has had a busy 18 months. The Better Bathrooms founder has increased turnover at the firm, secured a multi-million pound investment and...

Five Minutes With

Reputation is everything when it comes to running a successful business, according to Sacha Lord-Marchionne and Sam Kandel, founders of the Warehouse Project (WHP), a series of club nights featuring DJs from all over the world, which was launched back in 2006.

After travelling the world in a corporate role, Mike Wheeler decided that he had had enough of living out of a suitcase and so got a job running a small family business.