United Kingdom: Consumer confidence index drops again in October
October 30, 2015
In October, the GfK NOP consumer confidence indicator inched down from 3 points in September to 2 points, thus reaching a five-month low.
October’s reading mainly reflects a deterioration in consumers’ perceptions regarding the general economic situation in the next 12 months, thus bringing the sub-index to its lowest level in 10 months. Adding to that, consumers were less willing to make major purchases in September compared to the previous month. Conversely, in September, consumers’ perception regarding their personal finances in the next 12 months did not change over the previous month.
Author: Dirina Mançellari, Senior Economist