In August, the GfK NOP consumer confidence index remained unchanged over July, which marks the fourth straight month with sentiment steady at minus 29 points. The reading, however, undershot market expectations which had the index stepping up to minus 27 points. Respondents were more upbeat about the present and future state of the overall economy along as well as their current personal financial situation. In contrast, expectations for their personal financial situation over the next 12 months dropped along their willingness for making major purchases. GfK NOP recognized that the reading, while subdued, might have also been positively affected by the Olympic games in London. As a result, GfK NOP noted that the low level of consumer sentiment "mixed with grim sales figures from the last month paints a worrying picture for retailers as they head towards Autumn. According to GfK NOP, it's clear that consumer confidence is trapped in a spiral of depression and it doesn't look like improving any time soon.
United Kingdom Consumer Confidence
Consumer sentiment remains steady in August
August 31, 2012
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United Kingdom Consumer Confidence Chart
Note: GfK NOP Consumer Confidence Index.
Source: The GfK Group.
United Kingdom Economic News
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.
September 30, 2016
In September, home prices in the United Kingdom rose 0.3% over the previous month, which was below the 0.6% increase seen in August that had marked the highest reading in five months, according to the Nationwide Building Society (NBS).
United Kingdom: BoE keeps the Bank Rate unchanged in September and signals more policy easing later this year
September 15, 2016
At its meeting on 15 September, the Monetary Policy Committee (MPC) of the Bank of England (BoE) voted unanimously to keep the Bank Rate unchanged at 0.25%.