GfK: Consumer Confidence Index drops by two points

GfK’s UK Consumer Confidence Index has decreased two points this month to -1. Four of the five measures used to calculate the Index Score saw decreases this month, with the remaining measure increasing.

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

“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 themselves feeling any better off despite the growth in GDP, and this may be tempering the impact of positive media coverage of the economy.”

UK Consumer Confidence Measures – September 2014
The Overall Index Score has decreased by two points to -1 this month. Four of the measures used to calculate the index saw decreases, with the remaining measure increasing.

Personal Financial Situation
The index measuring changes in personal finances during the last 12 months has decreased one point this month to -8; this is eight points higher than September 2013.
The forecast for personal finances over the next 12 months has decreased four points this month to 1; this is at the same level as September 2013.

General Economic Situation
The measure for the General Economic Situation of the country during the last 12 months has decreased three points this month to -4; this is 21 points higher than September 2013.
Expectations for the General Economic Situation over the next 12 months have decreased seven points this month to 4; this is one point higher than this time last year.

Major Purchase Index
The Major Purchase Index has increased one point this month to 0; this is 14 points higher than this time last year.

Savings Index
The Savings Index has decreased one point this month to -9, which is eight points higher than September 2013.

Source : GfK
www.gfk.com/uk/news-and-events/press-room/press-releases/pages/september-sees-consumer-confidence-decrease-by-two-points-.aspx