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.
Author: Oliver Reynolds, Economist