United Kingdom Consumer Confidence November 2016

United Kingdom

United Kingdom: Consumer confidence slumps in November

November 30, 2016

The GfK NOP consumer confidence indicator dropped to minus 8 points in November from minus 3 points a month earlier, coming in substantially below analysts’ expectations of minus 4 points and marking the lowest reading in four months. The index remains in negative territory, where it has been since April of this year, highlighting consumers’ pessimism.

November’s reading reflects a broad-based deterioration. Consumers’ likelihood of making major purchases was the index measure which suffered the largest fall, dropping nine points compared to October. Consumers’ also grew more pessimistic regarding their personal finances, the general economic situation and the environment for savers.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.7% in 2016, which is up 0.1 percentage points over last month’s estimate. For 2017, the panel sees private consumption expanding 1.1%, which is up 0.2 percentage points from last month’s estimate.

Author:, Economist

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United Kingdom Consumer Confidence Chart

United Kingdom Consumer Confidence November 2016

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

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