UK DIY News
GfK: Consumer Confidence Fell In October
- Key future indicators on personal finances and purchase intentions edge up as general economic situation falls
Long-running Consumer Confidence Index fell one point to -21 in October. Three measures declined and two rose compared to September’s announcement.
Neil Bellamy, Consumer Insights Director, NIQ GfK, says:
“Consumer confidence fell one point this month to -21, taking the score back down to the level last seen in March this year. Also falling one point are both personal financial situation over the last 12 months and general economic situation over the next 12 months. The largest drop though was in our view of the general economic situation over the last 12 months, down five points to -42. On the plus side, the major purchase index rose two points and future personal financial expectations by one point. As the Budget statement looms, consumers are in a despondent mood despite a fall in the headline rate of inflation. This month’s Consumer Confidence Barometer paints a picture of people holding their breath to see what’s in store for them on 30th October.”
UK Consumer Confidence Measures – October 2024
The Overall Index Score fell one point to -21 in October. Three measures were down and two were up compared to last month’s announcement.
Personal Financial Situation
The index measuring changes in personal finances during the last year is down one point at -10; this is nine points better than October 2023.
The forecast for personal finances over the next 12 months is up one point at -2, which is six points higher than this time last year.
General Economic Situation
The measure for the general economic situation of the country during the last 12 months is down five points at -42; this is 12 points higher than in October 2023.
Expectations for the general economic situation over the next 12 months are down 1 point at -28; this is four points better than October 2023.
Major Purchase Index
The Major Purchase Index is up two points to -21; this is 13 points higher than this month last year.
Savings Index
The Savings Index rose four points to +27; this is two points higher than October 2023.
Source : GfK
Image : Ivan Balvan / iStock / 1164273151
Insight provides a host of information I need on many of our company’s largest customers. I use this information regularly with my team, both at a local level as well as with our other international operations. It’s extremely useful when sharing market intelligence information with our corporate office.
Don't miss out on all the latest, breaking news from the DIY industry
