United Kingdom Consumer Confidence November 2021

United Kingdom

United Kingdom: Consumer confidence improves but remains pessimistic in November

November 19, 2021

Consumer confidence came in at minus 14.0 in November, up from October's minus 17.0. Despite the uptick, the index remained below the 0-point threshold, separating pessimism from optimism among consumers.

The headline print reflected an improvement in consumers' views of the general economic situation over the next 12 months and more optimism over their financial situation over the next 12 months. Households also grew more willing to make major purchases.

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

“One highlight for both physical and virtual retail is the seven-point jump in major purchase intentions in the run-up to Black Friday and Christmas. Is this a sign that shoppers are ready to bounce back, after last year’s cancelled family gatherings, with a Christmas splurge in coming weeks? That’s how it looks.”

FocusEconomics Consensus Forecast panelists see private consumption expanding 6.7% in 2022, which is down 0.2 percentage points from last month’s forecast, before rising 2.6% in 2023.


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United Kingdom Consumer Confidence Chart

United Kingdom Consumer Confidence November 2021

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

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