US EditionConsumer confidence records ‘sharp slide’ in expectations for general economy
Consumer confidence in the UK dropped two points to minus 19 due to worsening economic expectations and cautious central bank policies, with saving intentions falling sharply, GfK data shows.
- In September, the GfK Consumer Confidence Index in the UK declined by two points to minus 19, reflecting a notable drop in expectations for the economy.
- This decline followed an August 7th interest rate cut that did not improve consumer mood, while expectations for higher taxes in the November budget weighed on sentiment.
- All five consumer confidence measures dropped, with major purchases down three points to minus 16 and saving intentions falling eight points, signaling broad weakness.
- Neil Bellamy, GfK Consumer Insights Director, noted a noticeable downturn in consumer sentiment this month, as reflected by the Overall Index Score decreasing from-17 to-19.
- These trends suggest ongoing consumer caution and economic uncertainty ahead, with sentiment sliding sharply and potential impacts on spending and growth.
15 Articles
15 Articles
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Consumer confidence fell in September amid a sharp slide in expectations for the general economy, figures show. GfK’s long-running Consumer Confidence Index dropped two points to minus 19 this month, with all measures down in comparison to last month. Expectations for the general economy fell two points to minus 32, a sharp fall from the minus 11 recorded for the same measure 15 months ago. The forecast for personal finances over the next 12 mon…
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