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Published on January 31st, 2019 | by The GC Team

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“Westminster chaos” shatters consumer confidence in general economy

UK consumer confidence remained at its lowest since mid-2013 during January, after falling one point to -14 in December.

The measure is still five points lower than at this time last year, but more significant is the -39 recorded for the ‘General Economic Situation over the next 12 months’ – 15 points lower than in January 2018 and the lowest score for more than seven years, and getting close to the levels seen at the end of 2008 and early 2009.  

Joe Staton, Client Strategy Director at GfK, said: “This is unsurprising given that consumers, companies and corporations thrive on certainty, which is in short supply just two months before the planned date for the UK’s EU-exit.

“With the Overall Index Score stuck at -14 this month, UK consumers remain in a ‘wait and see’ holding pattern in the face of political chaos in Westminster. 

“The next few months promise to be turbulent for the consumer so will this measure for the economic outlook in the coming year drop even further?” 

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