Consumer confidence slips in September
While the index measuring changes in personal finances during the last 12 months decreased one point this month to -8, the measure for personal finances over the next 12 months fell by four points to 1.
The measure for consumers’ expectations for the general economic situation over the next 12 months decreased by seven points to 4.
Meanwhile, the ‘climate for major purchases’ index increased by one point to 0, which is 14 points higher than this time last year.
Nick Moon, managing director of social research at GfK, said: “Last month, I speculated that we may be in a new period of stasis for the index, and this month certainly fits into that pattern. There have now been five consecutive months where the index has been at 0 plus or minus 2 – within the margins of error one would expect on a sample of this size.
“Over the same period, the objective macro-economic indicators have continued, for the most part, to be positive. One possible explanation for this positivity no longer being mirrored in the index is that many people are not themselves feeling any better off despite the growth in GDP, and this may be tempering the impact of positive media coverage of the economy.”
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