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 21 February 2021, 79.9% 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 February 2021, more manufacturers thought that output would fall over the next three months than thought it would rise. The difference was ‑2% of manufacturers, up from -24% in January.

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 -23 in February 2021, up by five points from -28 in January.