2019-12-05 DAD Christmas header banner 468×60

Industry News August retail sales growth supports consumer optimism

Published on October 2nd, 2018 | by The GC Team

0

Consumer confidence: Tick tock goes the Brexit clock

Consumer confidence fell by two points in September as fears for the general economy continued to drag the overall figure deeper into negative territory.

GfK’s Consumer Confidence Index decreased to -9, with expectations for the general economic situation over the next 12 months falling to -27.  

Joe Staton, Client Strategy Director at GfK, attributed the negativity to Britain’s forthcoming withdrawal from the EU, stating that the clock ticking down caused the consumer mood to drop. 

“There are fewer than 200 days until Brexit arrangements in some shape or fashion take effect,” he said.

“When respondents talk about their personal finances, the scores are still positive. But for the general economy, they can only reflect on the obvious uncertainty surrounding Brexit. That poor view of the wider economy is keeping the headline score negative – the last positive headline was the +4 in January 2016.”

Staton added that the danger is consumers might capitulate on how they feel about their personal finances.

“If that happens, we’ll see very sharp drops indeed in the Overall Index Score in the months up to March 2019.”

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Your email address will not be published. Required fields are marked *

12 − five =

Back to Top ↑

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