United Kingdom Consumer Confidence May 2016

United Kingdom

United Kingdom: Consumer confidence improves in May

May 30, 2016

In May, the GfK NOP consumer confidence indicator tallied minus 1 point, thus coming in slightly above the minus 3 points tallied in the previous month. April’s figure had marked the lowest figure since December 2014.

May’s reading mainly reflects an improvement in consumers’ perceptions regarding their personal economic situation in the last 12 months while the assessment of their personal economic situation for the next year did not change compared to the previous month. Moreover, households’ willingness to make major purchases in May improved over the previous month’s result.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.7% in 2016, which is unchanged over last month’s estimate. For 2017, the panel sees private consumption expanding 2.7%.

Author:, Senior Economist

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United Kingdom Consumer Confidence Chart

United Kingdom Consumer Confidence May 2016

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

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