UK consumer confidence at lowest level in a year

UK – Consumer confidence in the UK has dropped by three points to -13 in November, with purchase intentions taking the hardest hit, according to GfK.

Christmas dog

Confidence has fallen across all measures in the index against a backdrop of Brexit uncertainty, the Consumer Confidence Barometer has found.

The index measuring changes in personal finances over the past 12 months dropped by four points to -3, while the outlook for the next year decreased by one point to +3.

Perceptions of the country’s general economic situation have worsened both in relation to the past 12 months (down one point to -29 ) and when thinking about the 12 months ahead (down four points to -32 ).

Meanwhile, the Major Purchase Index, which assesses whether now is a good time to be spending more on large items such as furniture and electrical goods, decreased by seven points to -3 – a drop Joe Staton, client strategy director at GfK, described as “unhappy news for retailers” ahead of the Christmas period.

The Savings Index, which measures people’s attitudes to saving but is not included in the overall index score, has stayed at the same level this month at +12 – four points higher than this time last year.

Staton said: “Overall, we are now back at the -13 level we saw at the end of last year. The next few weeks are highly unlikely to inject any festive cheer, especially if Theresa May’s Brexit deal doesn’t win backing from MPs. The denouement to more than two years of bewildering Brexit wheeler-dealing looks like it will be enacted precisely when many consumers would prefer to be thinking of a well-earned Christmas break. Brexit appears to be turning this year’s ‘season of goodwill’ into ‘the season of uncertainty’.”

The monthly Consumer Confidence Barometer is conducted by GfK on behalf of the European Commission. November’s survey was conducted between 1st and 15th November.

We hope you enjoyed this article.
Research Live is published by MRS.

The Market Research Society (MRS) exists to promote and protect the research sector, showcasing how research delivers impact for businesses and government.

Members of MRS enjoy many benefits including tailoured policy guidance, discounts on training and conferences, and access to member-only content.

For example, there's an archive of winning case studies from over a decade of MRS Awards.

Find out more about the benefits of joining MRS here.

0 Comments


Display name

Email

Join the discussion

Newsletter
Stay connected with the latest insights and trends...
Sign Up
Latest From MRS

Our latest training courses

Our new 2025 training programme is now launched as part of the development offered within the MRS Global Insight Academy

See all training

Specialist conferences

Our one-day conferences cover topics including CX and UX, Semiotics, B2B, Finance, AI and Leaders' Forums.

See all conferences

MRS reports on AI

MRS has published a three-part series on how generative AI is impacting the research sector, including synthetic respondents and challenges to adoption.

See the reports

Progress faster...
with MRS 
membership

Mentoring

CPD/recognition

Webinars

Codeline

Discounts