GfK’s UK Consumer Confidence Index has dropped one point this month to -12.
Measures for Personal Financial Situation over the next 12 months, the General Economic Situation over the last 12 months, the Major Purchase Index have all decreased this month. The measure for Personal Financial Situation over the last 12 months stays the same whilst the measure for General Economic Situation over the next 12 months sees a rise of 1 point this month.
Nick Moon, Managing Director of Social Research at GfK, comments:
“A drop of one point in the Index is not significant, but what is more important is that, as it follows another one point drop last month, it does now appear that the seemingly inexorable rise of the previous six months has come to a halt. At -12, the Index is 17 points ahead of where it was in December, which is a very substantial improvement, but the Index looks set to say in negative territory for a while yet. What will be interesting over the next few months is the potential conflict between continuing good news about the economy, and consumers not feeling personally any better off.”
SEE NICK MOON TALKING ABOUT THIS MONTH’S CCB HERE:
UK Consumer Confidence Measures – November 2013
The Overall Index Score has decreased by one point this month to -12. 3 of the five measures used to calculate the score saw decreases this month, one measure stayed at the same level and one measure increased. The annual moving average increases one point to -20.
Personal Financial Situation
The index measuring changes in personal finances during the last 12 months has stayed the same this month at -17; this is four points higher than November 2012. The forecast for personal finances over the next 12 months has decreased two points this month to -4; this is three 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 decreased one point this month to -26; this is eighteen points higher than November 2012. Expectations for the General Economic Situation over the next 12 months have increased one point this month to -1; this is fourteen points higher than this time last year.
Major Purchase Index
The ‘climate for major purchases’ Index has decreased two points this month to -13; this is thirteen points higher than this time last year.
The ‘now is a good time to save’ Index has decreased three points this month to -11, which is five points higher than November 2012.