GfK: Consumer confidence drops one point in October

GfK’s UK Consumer Confidence Index has decreased one point this month to -2. Three of the five measures used to calculate the Index Score saw decreases this month, with the remaining two measures increasing.

Nick Moon, Managing Director of Social Research at GfK, comments:

“This is now the seventh month in a row that the Index has stood within two points either way of -1, and the almost constant improvement that saw the Index rise 28 points between April 2013 and June 2014 seems to have run completely out of steam. This is not, of course, to say that it will not start to rise again soon, but the opportunities for it to do so before we get seriously into the general election campaign are fast running out. It is likely that people will have to start feeling personally better off if the Index is to get solidly into positive territory.”

UK Consumer Confidence Measures – October 2014
The Overall Index Score has decreased by one point to -2 this month. Three of the measures used to calculate the index saw decreases, with the remaining two measures increasing.

Personal Financial Situation
The index measuring changes in personal finances during the last 12 months has increased one point this month to -7; this is 10 points higher than October 2013.

The forecast for personal finances over the next 12 months has increased three points this month to 4; this is six points higher than October 2013.

General Economic Situation
The measure for the General Economic Situation of the country during the last 12 months has decreased two points this month to -6; this is 19 points higher than October 2013.

Expectations for the General Economic Situation over the next 12 months have decreased two points this month to 2; this is four points higher than this time last year.

Major Purchases Index
The Major Purchase Index has decreased five points this month to -5; this is six points higher than this time last year.

Savings Index
The Savings Index has increased three points this month to -6, which is two points higher than October 2013.

Source : GfK
www.gfk.com/uk/news-and-events/press-room/press-releases/pages/october%20sees%20consumer%20confidence%20decrease%20by%20one%20point.aspx