In May, the consumer confidence index elaborated by GfK NOP increased by 2 points to minus 29 points, contrasting market expectations of consumer sentiment falling to minus 32 points. The rise represents the first improvement in four months, bringing the index to exactly the same level it was when the economy was entering recession in January and February this year. The improvement was the result of a rise in the two subcomponents that deal with future prospects. Expectations for both the general economic situation and respondents' own financial situation improved compared to April. In contrast, the assessment of the present situation compared to the previous 12 months, along with the willingness to make major purchases, deteriorated slightly over the preceding month.
United Kingdom Consumer Confidence
Consumer sentiment rises for first time in four months
May 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 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.