NIQ GfK: Consumer Confidence Increased In November

Long-running Consumer Confidence Index increased by three points to -18 in November. All measures were up in comparison to last month’s announcement.

Neil Bellamy, Consumer Insights Director, NIQ GfK, says: 

“Consumer confidence has improved by three points in November to reach -18. There was evidence of nervousness in recent months as consumers contemplated the potentially worrying impact of the UK Budget at home, and even the implications of the US presidential election. But we have moved past those events now. The biggest change this month is in major purchase intentions, an important measure that has jumped five points from -21 to -16 in the run-up to Black Friday next week.

"The other four measures, covering personal financial expectations and the wider economy, have registered small increases too. But while 2025 is just around the corner and the New Year often brings optimism, it’s too early to expect significant further improvements in the consumer mood. As recent data shows, inflation has yet to be tamed, people are still feeling acute cost-of-living pressures, and it will take time for the UK’s new government to deliver on its promise of ‘change’.”

UK Consumer Confidence Measures – November 2024

The Overall Index Score increased by three points to -18 in November. All measures were up in comparison to last month’s announcement.

Personal Financial Situation

The index measuring changes in personal finances during the last year is up one point at -9; this is seven points better than November 2023.

The forecast for personal finances over the next 12 months is up one point at -1, which is two points higher than this time last year.<br data-uw-rm-sr="" /><br data-uw-rm-sr="" />General Economic Situation
<br data-uw-rm-sr="" />The measure for the general economic situation of the country during the last 12 months is up three points at -39; this is 10 points higher than in November 2023.  

Expectations for the general economic situation over the next 12 months are up two points at -26; this is the same as November 2023.<br data-uw-rm-sr="" /><br data-uw-rm-sr="" />Major Purchase Index<br data-uw-rm-sr="" />
The Major Purchase Index is up five points to -16; this is eight points higher than this month last year.<br data-uw-rm-sr="" /><br data-uw-rm-sr="" />Savings Index
<br data-uw-rm-sr="" />The Savings Index has decreased three points to +24; this is five points lower than this time last year.

Source : GfK, An NIQ company

Image : Ivan Balvan / iStock / 1164273151

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