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21 December 2012
UK: December sees Consumer Confidence decrease
GfK’s UK Consumer Confidence Index has decreased by seven points this month to -29. Nick Moon, Managing Director of Social Research at GfK, comments: “While such a dramatic drop in consumer confidence over the last month might seem like very bad news, it must be seen in the context of a massive eight point rise in November – the seventh highest increase since the Index began in 1974. On its own, this increase suggested a real turning point in consumer confidence as we looked ahead to 2013. But just as with significant improvements like this in the past – in May 2011 for example – the surge disappeared as fast as it arrived. Despite last month’s rise, the Index is now only one point higher than it was in October 2012, indicating that consumer sentiment is still fragile despite the fact Christmas is less than a week away.”

UK Consumer Confidence Measures – December 2012

The overall index score has decreased seven points this month to -29. Four of the five measures decreased this month, with the remaining measure remaining the same. The annual moving average stays the same at -29.

Personal Financial Situation

The Index measuring changes in personal finances during the last twelve months has decreased one point this month to -22; this is one point higher than December 2011. The forecast for personal finances over the next twelve months has stayed the same this month at -7; 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 twelve months has decreased 11 points to -55; this is seven points higher than December 2011.
An expectation for the general economic situation over the next 12 months has decreased 16 points this month to -31; this is 10 points higher than December 2011.

Climate for Major Purchases

The major purchases measure has decreased one point this month to -27; which is four points higher than this time last year.

Savings Index

The ‘now is a good time to save’ Index, has decreased four points to -20, which is eight points lower than December ’11.

EDITOR’S NOTE: Please source all information to GfK.For further details or to arrange an interview, please contact Lizzy Chadwick at Citizen Relations Tel: +44 (0) 20 3451 9400

About the survey

The UK Consumer Confidence Barometer is conducted by GfK on behalf of the EU, with similar surveys being conducted in each European country. In producing its own reports on the whole of Europe, the EU applies a seasonal adjustment to the data, to smooth out any changes that are functions at least in part of the time of year.

Historically, the UK data have not been seasonally adjusted in this way, and to maintain comparability, GfK continues not to apply this adjustment. This can lead to situations where the EU figures show different movements in a particular month from those produced by GfK. Individual months may be affected, but the long term trend is not.

The UK Consumer Confidence Survey from GfK was conducted amongst a sample of 2,002 individuals aged 16+ on behalf of the European Commission. Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population. Interviewing was carried out during 30th November – 9th December 2012. The figures contained within the Consumer Confidence Barometer have an estimated margin of error of +/-2%.

Results for the Consumer Confidence Barometer are normally available on the last working day of each month at 00.01am; the release date for January 2013 is Thursday 31st January 2013. Any published material requires a reference to both GfK and the European Commission e.g. ‘Research carried out by GfK on behalf of the European Commission’. This study has been running since 1974. Back data is available from 1996.

Want to know even more? Annual subscriptions run from May – April each year at a cost of £1,850 plus VAT.

Responsible under press legislation: Marketing, GfK, Richard Morland, Ludgate House, 245 Blackfriars Road, London, UK, SE1 9UL

About GfK

GfK is one of the world’s largest research companies, with more than 12,000 experts working to discover new insights into the way people live, think and shop, in over 100 markets, every day. GfK is constantly innovat-ing and using the latest technologies and the smartest methodologies to give its clients the clearest understanding of the most important people in the world: their customers. In 2011, GfK’s sales amounted to €1.37 billion.
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