Consumer confidence ‘flatlines’ in November
New figures have shown that consumer confidence ‘flatlined’ in November as shoppers wait to see what happens with the general election and Brexit.
The data from GfK’s long running consumer confidence index shows that the overall index score stayed at -14 this month.
While the index measuring consumers’ forecast for personal finances over the next 12 months was unchanged from October at 1, the major purchase index decreased by one point to 0.
Meanwhile, the index measuring people’s expectations for the general economic situation over the next 12 months rose by three points to -34
Joe Staton, client strategy director at GfK, said: “In the face of Brexit and election uncertainty, consumers are clearly in a ‘wait-and-see’ mode. The score for the general economy over the coming year has ticked up three points and this is possibly an indication that some consumers believe the imminent general election might clear the Brexit deadlock, even though this sub-measure is still in deeply negative territory at -34. The general election is potentially an opportunity to move us out of the doldrums – but for this to happen there must be a clear result.”
Photo by Georgia Hawkins.