Consumer confidence drops again in July

 GfK's Consumer Confidence Index dropped another point in July, reaching -12.

The figure has not reached positive territory since February 2016.  

GfK’s client strategy director Joe Staton said: “Despite the World Cup, Wimbledon and warm weather playing front and centre in the nation’s psyche this July, the barometer again reveals a decline in consumer confidence. The Overall Index Score has now registered at zero or negative since February 2016.

“In the medium term, and during the uncertainty in the run-up to the UK leaving the European Union in eight months, it is hard to forecast what kind of good news will change the numbers from negative to positive, or indeed where such good news would originate.

“In this environment, any bad news such as a surprising uptick in inflation with the expectation of a corresponding increase in interest rates, or any adverse political event either at home or abroad, would likely have an exaggerated downward drag on consumer confidence.”

Source : GfK

Image : Shutterstock - 202554910

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