United Kingdom: Consumer confidence deteriorates in October
October 31, 2016
In October, the GfK NOP consumer confidence indicator was minus 3 points, coming in slightly below the minus 1 point recorded in the previous month. The index remains in negative territory, where it has been since April of this year.
October’s reading mainly reflects a deterioration in consumers’ perceptions of their personal finances in the next 12 months. Moreover, their assessment of the UK’s general economic situation was more negative than in the previous month. Conversely, households’ willingness to make major purchases improved in October.
Author: Dirina Mançellari, Senior Economist