United Kingdom: Consumer confidence inches down in April
April 30, 2013
In April, the GfK NOP consumer confidence index edged down to minus 27 points from minus 26 points in March. The figure undershot market expectation that had confidence remaining unchanged over the previous month. GfK highlighted that the drop, even if modest, "implies the recovery in confidence has stalled, and real recovery looks a long way away".
The monthly decline was mostly the result of consumers' more pessimistic assessment about their personal financial situation both during the last 12 months and their expectations over the next 12 months. In addition, the climate for making major purchases deteriorated over March, whereas respondents' assessment of the general economic situation improved somewhat.
FocusEconomics Consensus Forecast panellists expect private consumption to expand 0.9% in 2013, which is unchanged over last month's estimate. For 2014, the panel sees private consumption expanding 1.5%.