Published on January 2nd, 2018 | by The GC Team0
Consumer confidence at a low ebb as 2017 draws to a close
Consumer confidence fell a further one point in December and the gloomy outlook is predicted to continue.
GfK’s Consumer Confidence Index decreased to -13, down from the -7 recorded at the beginning of 2017. In fact, the Index has not seen positive territory for almost two years.
Two of the five measures used to calculate the score fell in December, two measures stayed at the same level and one saw a one-point increase.
The Major Purchase Index, a healthy +10 at the start of the year slid to -4 by the year end, while the Index measuring changes in personal finances during the last 12 months decreased two points to -3.
Joe Staton, Head of Market Dynamics at GfK, said: “We need to see several issues move on before the downward trend of the consumer mood changes.
“We need to have a better sense of how Brexit will pan out, and also of how quickly and how far interest rates will rise. But none of this will be resolved quickly so there’s every likelihood that 2018 will take us lower.”