UK consumer confidence declines

GfK has revealed a decline in consumer confidence this month.

The company’s UK Consumer Confidence Index decreased two points this September, reaching -1 on the barometer.

September's decline in the index was driven by a fall in four of the index's five main components, with biggest drops showing in household expectations for their personal finances and the general economy over the next 12 months.

Nick Moon, managing director of social research at GfK, said: “Last month, I speculated that we may be in a new period of stasis for the index, and this month certainly fits into that pattern. There have now been five consecutive months where the index has been at 0 plus or minus 2 – within the margins of error one would expect on a sample of this size.

“Over the same period, the objective macro-economic indicators have continued, for the most part, to be positive. One possible explanation for this positivity no longer being mirrored in the index is that many people are not feeling any better off, despite the growth in GDP, and this may be tempering the impact of positive media coverage of the economy.”

The UK Consumer Confidence Barometer is conducted by GfK on behalf of the EU. The UK Consumer Confidence Survey from GfK was conducted among a sample of 2012 individuals aged 16+ on behalf of the European Commission.

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