In March, the consumer confidence index elaborated by GfK NOP dropped to minus 31 points from minus 29 points in February. The figure marked the lowest level in three months and surprised the market on the downside, as analysts expected the index to remain unchanged. According to GfK, the monthly drop in consumer sentiment shows that consumers are becoming increasingly pessimistic about their personal economic circumstances over the next twelve months, a worrying sign for the already hard-pressed retail sector. Four out of the five sub-components that form the confidence index declined from the previous month. In particular, respondents were more pessimistic about their personal financial situation both over the last 12 months and over the next 12 months. Accordingly, the willingness to make major purchases also decreased.
United Kingdom Consumer Confidence
Consumer confidence declines unexpectedly in March
March 30, 2012
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United Kingdom Economic News
October 21, 2016
Following nearly four months of little or no news regarding formal negotiations with the European Union, in early October, Prime Minister Theresa May finally shed some light on the Brexit timeline and announced that Article 50 of the Lisbon Treaty will likely be triggered before the end of March 2017.
October 19, 2016
In September, jobless claims increased by 700 from the previous month, according to the Office for National Statistics (ONS).
October 18, 2016
In September, consumer prices increased 0.2% from the previous month, which came in below the 0.3% increase seen in the previous month.
October 8, 2016
In August, industrial production contracted 0.4% over the previous month in seasonally-adjusted terms, which contrasted the 0.1% increase recorded in July.
October 3, 2016
In September, the manufacturing sector recovered the ground it had lost after the EU referendum.