2019-05-01 REPIC Batteries header 468×80 industry news

Business December footfall reflects changing shopping habits

Published on October 31st, 2018 | by The GC Team

0

Brexit fears sap UK consumer confidence

Consumer confidence slipped again in October as concern about the future of the general economy under stalling Brexit talks deepened and consumer spending on big-ticket items such as electrical goods and furniture fell.   

GfK’s Consumer Confidence Index dropped one point to -10 amidst expectations for the general economic situation over the next 12 months sinking to the low level of -28.

“The prospect of a no-deal/hard-deal Brexit must surely be weighing heavily on people’s minds, injecting a mood of despondency as to how people view their future personal finances and the longer-term economic outlook for the UK,” said Joe Staton, Client Strategy Director at GfK.

“We also appear to be losing confidence that now is ‘the right time’ to make major purchases. This will concern retailers in the run-up to Black Friday, Cyber Monday and the key Christmas trading period.”

Staton commented on “imminent end of austerity” claims, lower retail price inflation and accelerating wages growth, stating that these would normally be sufficient to boost consumer sentiment. “It looks like the UK Government will need to administer an exceptionally strong tonic to the nation to settle the obvious Brexit anxieties,” he added.

Tags: ,


About the Author

Get Connected is the top trade journal for the UK electricals industry. Its website is the fastest, most interesting and up to date in the business.



Leave a Reply

Your e-mail address will not be published. Required fields are marked *

five × one =

Back to Top ↑
  • 2019 03 11 – 300×250 ESSE Vector ad
  • The Latest…

  • GC Latest Tweets…

  • Read The Latest Issue Now
  • Subscribe to GC's weekly e-Bulletin!
  • News by Category

  • Archived


By clicking "Subscribe", you agree with our terms:
Mud Hut Publishing Ltd will use the information you provide on this form to be in touch with you with relevant news and content. You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us, or by contacting us at info@gcmagazine.co.uk. We will treat your information with respect. For more information please view our privacy policy.
Stay connected with GC’s regular news updates...
Subscribe