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Industry News

Published on November 30th, 2018 | by The GC Team

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No goodwill here as “season of uncertainty” looms

Consumer confidence in the UK fell by three points in November against the backdrop of Prime Minister Theresa May’s “This deal, No deal or No Brexit” threat, in order to sell a duff arrangement to Parliament and the people.

So uncertain is the nation of gaining an advantageous and orderly exit from the EU, that all five measures used to calculate GfK’s Consumer Confidence Index decreased, the overall score falling to -13.

There are growing concerns over personal finances, the general economy and purchase intentions, with the Major Purchase Index registering the greatest drop, down seven points to -3.  “Unhappy news for retailers,” said Joe Staton, Client Strategy Director at GfK. 

The assessment of the general economy’s performance over the coming 12 months was also bleak, falling four points to a depressing low of -32.

“The next few weeks are highly unlikely to inject any festive cheer, especially if Theresa May’s Brexit deal doesn’t win backing from MPs,” said Staton.

“The denouement to more than two years of bewildering Brexit wheeler-dealing looks like it will be enacted precisely when many consumers would prefer to be thinking of a well-earned Christmas break filled with family get-togethers, warmth and festivity – possibly turning this year’s season of goodwill into the season of uncertainty.”

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