UK consumer confidence nudges higher - GfK
By Abigail Townsend
Date: Friday 16 Dec 2022
(Sharecast News) - UK consumer confidence remains at historic lows, a survey showed on Friday, as the poor economic climate continues to weigh heavily
The latest GfK Consumer Confidence Index was -42, up two points on November but still only seven points off September's record low of -49.
Joe Staton, client strategy director at GfK, said: "December marks the eighth month in a row in which the index has bumped along at -40 or worse, the first time this has happened since our records began nearly 50 years ago."
Within the overall score, the index for expectations for personal finances was unchanged on November, at -29, while the gauge for the outlook for the economy over the next 12 months pushed five points higher to -53.
The major purchases index also strengthened slightly, by four points to -34.
However, Staton argued: "Despite the latest GDP figures showing slight growth in October, the warning is of a tough road ahead and that the UK is not out of the recessionary woods.
"Real wages are falling as inflation continues to bite hard, further straining the discretionary budget of many households as we enter the last few shopping days before Christmas. The outlook for our personal financial situation over the next 12 months - perhaps the key metric as we enter the new year - is stuck at -29."
GfK surveyed 2,000 individuals aged 16 and over between 30 November and 9 December.
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