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Industry News

Published on August 3rd, 2018 | by The GC Team

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Consumer confidence slips again

UK consumer confidence continued its steady decline in July, despite expectations of a rise due to the heatwave and Britons choosing staycations over holidaying abroad.

GfK’s Consumer Confidence Index dropped one point to -10 and has remained at zero or in negative territory since February 2016.

Joe Staton, Client Strategy Director at GfK, said: “Concerns about our personal financial situation, and especially the general economic outlook, have contributed to this long slump.

“In the medium-term, and during the uncertainty in the run-up to the UK leaving the European Union in eight months, it is hard to forecast what kind of good news will change the numbers from negative to positive, or indeed where such good news would originate.”

GfK’s Index also brought some bad news for retailers in the form of the Major Purchase Index, which slipped below zero to reach -2 in July.

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