Consumer confidence edges up this month
Consumer confidence has edged up in September as people take a “wait-and-see” approach in the run-up to the Brexit deadline on 31 October.
GfK’s long-running Consumer Confidence Index increased by two points to –12 in the month as all five measures used to calculate the index rose.
The index measuring the forecast for personal finances over the next 12 months moved up two points to +4 while the measure for expectations for the general economic situation over the next 12 months increased by three points to -35.
Meanwhile, the major purchase index climbed by two points in September to +3. This is three points lower than in the same month last year.
Joe Staton, client strategy director at GfK, said: “British consumers appear to be treading water during this wait-and-see run up to 31 October.
“Confidence is an important indicator which typically increases as the economy expands and decreases when the economy contracts and so far, consumer confidence is holding up.
“We certainly have a long way to go to match the record low headline score of -39 witnessed during the early days of the last recession. But will it stay that way? You can almost sense people are keeping their fingers crossed.”
Photo by Georgia Hawkins
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