United Kingdom Consumer Confidence November 2022

United Kingdom

United Kingdom: Consumer confidence rises but remains in negative territory in November

November 18, 2022

Consumer confidence rose to minus 44.0 in November from October's minus 47.0. Despite the uptick, the index remained below the 0-point threshold, pointing to improving, albeit still negative, confidence among consumers. November’s reading was also among the lowest figures on record, boding poorly for private consumption in Q4.

The reading was driven by consumers’ less pessimistic views regarding the general economic situation and their personal situation, and a greater willingness to make major purchases.

FocusEconomics Consensus Forecast panelists see private consumption falling 0.5% in 2023, which is down 0.2 percentage points from last month’s forecast, before rising 1.4% in 2024.


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United Kingdom Consumer Confidence November 2022

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


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