GfK: Consumer Confidence Drops to Lowest Level Since July 2013

GfK's monthly Consumer Confidence Index has revealed a one-point decline for December 2018.

With the score now at -14, consumer confidence levels have reached the lowest level since July 2013.

There was, however, a five-point increase in the major purchases index - an indication of consumer attitude to the purchase of big-ticket items - which reached +2. 

GfK client strategy director, Joe Staton, said: “UK consumers are ending 2018 on a pessimistic note with Christmas cheer in short supply,” 

“This represents a more than five-year low for the index, which has bumped along in negative territory since 2016.”

“In the face of ever-rising costs, and the threat of higher inflation combined with uncertainty around the outcome of the Brexit negotiations, it’s no surprise that consumers are in a chilly mood of despondency.

“Sad to say that an unhappy and uncertain new year beckons despite good intentions from all points on the economic and political spectrum.”

Source : Insight DIY Team

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