THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omnichannel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Consumer confidence declines in January

Consumer confidence has dropped in January as it continues to bump along at near-record lows. According to GfK, its long-running Consumer Confidence Index has fallen by… View Article

GENERAL MERCHANDISE

Consumer confidence declines in January

Consumer confidence has dropped in January as it continues to bump along at near-record lows.

According to GfK, its long-running Consumer Confidence Index has fallen by three points this month to -45.

Joe Staton, client strategy director, GfK said: “After a short-lived and weak rally in Q4 last year, UK consumer confidence has slipped to -45 in January. Consumers have a New Year hangover – but it’s of the economic kind – with high levels of pessimism over the state of the wider economy. And unlike a conventional hangover, this one won’t vanish quickly.”

GfK’s index measuring expectations for the general economic situation over the next 12 months has fallen by one point to -54 this month, although the forecast for people’s personal finances has increased by two points to -27.

Meanwhile, GfK’s major purchase index is down six points to -40, which is 30 points lower than January last year.

Staton said: “This month’s six-point decline in the major purchase index does not augur well because consumer spending is a driving force of our economy and future growth. With inflation continuing to swallow up pay rises, and the prospect of some shocking energy bills landing soon, the forecast for consumer confidence this year is not looking good. One thing we can be sure of is that 2023 promises to be a bumpy ride.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News