GfK’s UK Consumer Confidence Index has decreased three points this month to -2. All five measures used to calculate the Index Score saw decreases this month.
Nick Moon, Managing Director of Social Research at GfK, comments:
“No sooner had the Index crossed into positive territory last month – for the first time in nearly 10 years – than it fell back into the negative, standing this month at -2. All five of the component parts of the Index fell this month, with four-point drops in both the questions about the country’s general economic situation being particularly noticeable. The almost relentless rise of the last six months couldn’t continue indefinitely, and the government will be hoping this is just a temporary setback rather than the forerunner of a wider decline in confidence.”
UK Consumer Confidence Measures – July 2014 The Overall Index Score has decreased by three points to -2 this month. All five measures saw decreases this month.
Personal Financial Situation
The index measuring changes in personal finances during the last 12 months has decreased two points this month to -11; this is five points higher than July 2013. The forecast for personal finances over the next 12 months has decreased one point this month to 2; this is 2 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 four points this month to -7; this is 28 points higher than July 2013.
Expectations for the General Economic Situation over the next 12 months have decreased four points this month to 9; this is 18 points higher than this time last year.
Major Purchase Index
The Major Purchase Index has decreased one point this month to -3; this is 18 points higher than this time last year.
The Savings Index has decreased two points this month to -9, which is 5 points higher than July 2013.