UK consumer confidence has slipped again. GfK reported that its Consumer Confidence Index dropped three points to -19 in February 2026, reversing some of the modest gains seen in recent months.
Out of the five measures tracked, three fell, one rose, and one stayed the same compared with January.
Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, said the drop was largely driven by how people feel about their personal finances.
“Fewer people think now is a good time to make big purchases, and fewer intend to save,” he explained. The Major Purchase Index fell four points, while the Savings Index dropped seven.
Even though inflation is starting to ease, prices are still rising, forcing many households to focus on day-to-day spending instead of longer-term goals.
Consumers’ views of the wider economy remain negative, with only modest growth expected this year. Rising unemployment, now at its highest level in almost five years, is adding to worries about job security.
Entry-level opportunities are scarce, putting additional strain on those with lower incomes, and potentially dampening the normally upbeat outlook among younger people.
Breaking down the numbers: the index tracking personal finances over the past year fell four points to -7, and the forecast for the year ahead also dropped four points to 2.
The measure for the country’s economic situation over the last 12 months inched up one point to -44, while expectations for the next 12 months held steady at -31.