Consumer confidence dips in September
UK consumer confidence fell in September as people felt less positive about the wider economy and their personal finances.
GfK’s latest Consumer Confidence Barometer shows that the main headline index dropped four points to 3 in September with all five measures used to calculate the index seeing decreases.
Joe Staton, head of market dynamics at GfK, aid; “Consumers are in a depressed ‘back-to-school’ mood this month with a dip in people feeling good about the wider economy and their own personal economic circumstances. Across the board, all components of the index have dropped despite a positive UK news agenda of continued near-zero inflation, low interest rates and levels of unemployment, UK wage growth at a six-year high and the ever increasing value of our homes.”
While the forecast for personal finances over the next 12 months dropped one point to 6, the index measuring expectations for the general economic situation over the next 12 months fell by five points to -2.
Meanwhile, the climate for major purchase index declined by three points to 14. This is 14 points higher than this time last year.
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