United Kingdom: Consumer confidence falls in November
November 29, 2013
In November, the GfK NOP consumer confidence index inched down from minus 11 points in October to minus 12 points. The reading undershot market expectations of an improvement to minus 10 points.
The decrease in November came on the back of a deterioration in consumers' views regarding their personal finances over the past 12 months as well as their assessment of the general economic situation for the next 12 months. In addition, the major purchase index, which captures household sentiment regarding their ability to make large purchases, deteriorated from minus 11 points to minus 13 points.
FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.7% in 2013, which is up 0.1 percentage points over last month's estimate. For 2014, the panel sees private consumption expanding 1.9%, which is up 0.2 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist