Business and Consumer Confidence: Key Economic Indicators

Confidence surveys, with information generally released ahead of official statistical data, can indicate changes to the economic outlook as well as turning points in the economic cycle.

ONS Business Impacts of Coronavirus Survey

The ONS conducts a voluntary survey of businesses to look at the impact of the Covid-19 pandemic.

In the two weeks ending 27 June 2021, 82.8% of respondents had high or moderate confidence their business would survive the next three months.

CBI Industrial Trends Survey

The CBI carries out monthly and quarterly Industrial Trends surveys.

In July 2021, more manufacturers thought that output would rise over the next three months than thought it would fall. The difference was +44% of manufacturers, up from +33% in June to a record high, indicating the strongest growth expectations on record.

GfK Consumer Confidence Survey

GfK’s Consumer Confidence Index (carried out on behalf of the European Commission) measures a range of consumer attitudes, including forward expectations of the general economic situation and households’ financial positions, and views on making major household purchases.

The index was -7 in July 2021, up from -9 in June to the same level as in February 2020, before the pandemic.