GfK’s UK Consumer Confidence Index has decreased four points to +3 in September. All five of the measures used to calculate the Index saw decreases this month.
Joe Staton, head of market dynamics at GfK, says: “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.
The biggest decrease in the Index this month comes in how we think the general economic situation in this country has changed over the past 12-months (minus six points) and our expectations for the general economic situation in this country over the next 12 months (minus five points).”
The index measuring changes in personal finances during the last 12 months has decreased by two points this month to +1 – this is nine points higher than September 2014.
The forecast for personal finances over the next 12 months has decreased one point to +6 this month – five points higher than September 2014.
The measure for the General Economic Situation of the country during the last 12 months has decreased six points this month to -3, which is one point higher than September 2014.
Expectations for the General Economic Situation over the next 12 months have decreased five points to -2 –six points lower than this time last year.
The Major Purchase Index has decreased three points this month to 14 – this is 14 points higher than this time last year.
The Savings Index has increased one point to 3, which is 12 points higher than September 2014.