United Kingdom Consumer Confidence July 2022

United Kingdom

United Kingdom: Consumer confidence steady in July at record low

July 22, 2022

Consumer confidence was unchanged at June's record low of minus 41.0 in July.

The reading came on the back of a deterioration in consumers’ assessments of the general economic situation over the last 12 months, which offset an improved assessment of households’ financial situation over the next 12 months.

Regarding the reading, Joe Staton, GfK’s client strategy director, stated:

“Consumer confidence remains severely depressed this month as the impact of soaring food and fuel prices and rising interest rates continues to darken the financial mood of the nation.”

FocusEconomics Consensus Forecast panelists see private consumption expanding 4.2% in 2022, which is down 0.6 percentage points from last month’s forecast, before rising 0.8% in 2023.


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