United Kingdom Consumer Confidence October 2016

United Kingdom

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.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.6% in 2016, which is up 0.2 percentage points over last month’s estimate. For 2017, the panel sees private consumption expanding 0.9%, which is also up 0.2 percentage points from last month’s estimate.

Author:, Senior Economist

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United Kingdom Consumer Confidence Chart

United Kingdom Consumer Confidence October 2016

Note: GfK Consumer Confidence Index.
Source: The GfK Group.

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