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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.

European Commission Economic Sentiment Indicator

The European Commission conducts regular harmonised surveys for different sectors of EU member states’ economies.

Between July and August 2020, the overall UK sentiment index fell by 0.4 points to 75.1, following its recovery from May’s low of 61.7.

CBI Industrial Trends Survey

The CBI carries out monthly and quarterly Industrial Trends surveys.

In August, more manufacturers thought that output would fall over the next three months than thought it would rise. The difference was -10% of manufacturers, falling back from July’s +15%.

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 -27 in August, unchanged from July.

 


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