logo
search
EN-GB

30.11.2016

UK Confidence

Growing fears about economy in coming 12 months

GfK’s long-running Consumer Confidence Index has decreased by five points this month to -8. All five of the measures in the Index saw decreases in November.

Joe Staton, Head of Market Dynamics at GfK, says:

“The slump across the board this month points to continuing uncertainty about the state of the economy among consumers. Although scores for our personal financial situation just about remain positive, the big theme is the reduced confidence in the UK economy looking back and ahead. We are viewing our economy over the past 12 months with increasing despondency. The decreasing score on the economy for the next 12 months also shows we are resolutely gloomy about the outlook despite strong GDP numbers. The ‘next 12 months’ figure has been low since the June vote to leave the EU as ongoing economic turmoil, inflationary pressures and global anxiety impact our levels of confidence. And is this gloomy mood also affecting spending intentions? Despite recent strong retail sales, we are reporting a sharp -9 point drop in the Major Purchase Index this month and this will be an acute concern for retailers as they gear-up for the key Christmas selling period. Many are saying that fears about the British economy have been overstated, but time will tell if the pessimism shown in the Index is misplaced or not.”

Related Products

  • GfK Key Account Data

    Based on named retailer data, KAD is invaluable in defining successful Category Management & optimizing Supply Chain Strategy. KAD is a common information currency for Retailers & Industry.

    Read more
  • GfK Why2Buy

    Custom surveys run on GfK’s Consumer Panel to understand the ‘why’ behind shoppers’ purchase behaviour. Results are calibrated to panelists’ purchase behavior.

    Read more
  • GfK Point of Sales Tracking

    Product tracking comparison tool measuring market share and brand performance. Data from both retailer and reseller. Regular POS insights across all relevant channels.

    Read more

Related Insights

  • 19.10.2020

    Articles

    If you know this Black Friday will be like no other, you can take ...

    How changes in shopping habits will affect your biggest sales season of the year.

  • 15.05.2020

    Webinars

    On demand webinar: How COVID-19 is impacting the buying behaviours ...

    Watch our on demand webinar here.

  • 14.05.2020

    Articles

    Perfect your promotional tactics with weekly sales insights

    Weekly POS tracking gives marketing managers the tailored insights they need for making the right decision at exactly the right time.

View all Insights