GfK’s UK Consumer Confidence Index has dropped one point this month to -13.
Measures for Personal Financial Situation over the past 12 months and over the next 12 months have both seen increases this month; the General Economic Situation over the last 12 months has stayed the same, whilst measures for the General Economic Situation over the next 12 months and the Major Purchase Index have decreased this month.
Nick Moon, Managing Director of Social Research at GfK, comments: “Although a single point move is not statistically significant, what matters is that the Index has fallen for three months in a row, and we can say there is a downwards trend. It is not nearly enough to negate the massive gains made from April to September, and at -13 the Index is still 14 points higher than in the first quarter. With no media coverage of bad economic news – and indeed continuing coverage of good news – the explanation for the last quarter of declining confidence most likely results from people’s sense of how well or rather badly - off they personally feel. “
SEE NICK MOON TALKING ABOUT THIS MONTH’S CCB HERE:
UK Consumer Confidence Measures – December 2013
The Overall Index Score has decreased by one point this month to -13. Two of the five measures used to calculate the score saw decreases this month, two of the measures increased, and one stayed at the same level.
Personal Financial Situation The index measuring changes in personal finances during the last 12 months has increased one point this month to -16; this is six points higher than December 2012. The forecast for personal finances over the next 12 months has increased one point this month to -3; this is four points higher than this time last year.
General Economic Situation The measure for the General Economic Situation of the country during the last 12 months has stayed the same this month at -26; this is twenty nine points higher than December 2012. Expectations for the General Economic Situation over the next 12 months have decreased three points this month to -4; this is 27 points higher than this time last year.
Major Purchase Index The ‘climate for major purchases’ Index has decreased four points this month to -17; this is ten points higher than this time last year.
Savings Index The ‘now is a good time to save’ Index has decreased two points this month to -13, which is seven points higher than December 2012.