United Kingdom: Consumer confidence rises but remains pessimistic in December
Consumer confidence rose to minus 42.0 in December from November’s minus 44.0. December’s result marked the best performance since July. Despite the uptick, the index remained below the 0-point threshold, indicating pessimism among consumers.
The reading was driven by improved sentiment regarding the general economic situation and consumers willingness to make major purchases. That said, all subsectors were still deep in negative territory.
Regarding the reading, Joe Staton, GfKs client strategy director, stated:
“December marks the eighth month in a row in which the Index has bumped along at -40 or worse, the first time this has happened since our records began nearly 50 years ago. […] The outlook for our personal financial situation over the next 12 months – perhaps the key metric as we enter a new year – is stuck at -29. […] with scant seasonal joy at present and no immediate prospect of fiscal good news, it is unlikely we will see a rebound in confidence anytime soon.”