Consumer confidence sees slight dip in April
New figures have revealed that consumer confidence dipped slightly in April but there was no sign of a big downturn following the triggering of Article 50.
GfK’s long-running Consumer Confidence Index decreased by one point to -7.
Joe Staton, head of market dynamics at GfK, said: “In the face of widespread reports of rampant inflation, stagnating wages and anxiety over our borrowing binge, UK consumer confidence is surprisingly stable.
“Although the overall index score remains in negative territory, and has dipped this month, we have not seen any evidence of the predicted post-Trigger downturn, despite high levels of concern about the general economic situation of the country.”
The index relating to the forecast for personal finances over the next 12 months decreased by one point to 2.
The measure relating to expectations for the general economic situation over the next 12 months fell by one point to -21.
Meanwhile, the major purchase index increased by one point to 7. This is two points higher than the same month last year.
Staton added: “Consumers continue to remain positive about the state of their personal finances and even report that now is a good time to buy. But is this too good to be true? Is this simply the calm before the storm? Is pre-Brexit economic turbulence yet to really batter households? That threat cannot be ruled out. But for the moment, consumer sentiment remains relatively buoyant.”
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