Consumer confidence in the UK remained suppressed this month amid continuing concerns about the state of the economy.
GfK’s Consumer Confidence Index edged up one point to -17 in December, with two measures up and three unchanged in comparison to last month’s announcement.
Neil Bellamy, Consumer Insights Director at NIQ GfK, noted that there was some room for optimism with views on personal finances over the next 12 months up two points versus November and creeping back into positive territory. However, with the major purchase measure unchanged in December, consumers appear to be thinking twice about big-ticket purchases ahead of the key Christmas trading period.
Meanwhile, views on the economy were unchanged from November, suggesting that people don’t know where things are heading. “We will need to see robust improvements in these perceptions of the economy before we can start talking about sustained improvements in the consumer mood,” said Bellamy.
“In a nutshell, it’s the continuing uncharitable view on the UK’s general economic situation that’s suppressing consumer confidence.”
