GfK’s long-running UK Consumer Confidence Index remains positive, but has decreased one point to +1 in November. Three of the measures used to calculate the index saw decreases this month, one increased, and the other one was unchanged.
Joe Staton, head of market dynamics at GfK, says: “From summer’s 15-year high, consumer confidence in the UK has continued to slide to +1 this month. Overall, despite the good news agenda of rock-bottom inflation, falling fuel prices and higher wage growth boosting spending power, confidence appears to be depressed by a combination of wider economic, political and social events. However, one area that continues to hold up is our expectation for our personal financial situation for the next 12 months.
"Shoppers also continue to tell us that now is the right time to make major purchase – such as furniture or electrical goods – with this indicator standing nearly 10 points higher than in November last year. This suggests that lots of households up and down the land will be sitting on a new three-piece suite this December to watch Downton Abbey on an ever-wider TV screen while digesting their Christmas turkey and all the trimmings."