United Kingdom: Consumer sentiment perks up in December
December 20, 2019
The GfK consumer confidence indicator registered minus 11 in December, up from November’s minus 14, and potentially linked to greater political certainty following the general elections. However, the index remained in negative territory, where it has been since April 2016, highlighting that consumers are broadly pessimistic.
Consumers grew more upbeat about the general economic situation, and their future personal financial situation. Moreover, consumers became more willing to make major purchases. A further strengthening of confidence early in the new year would bode well for private consumption in Q1.
According to Joe Staton, Client Strategy Director at GfK: "A great many people will be gazing into their crystal balls right now; ours indicates a rebound in confidence in 2020 based on renewed optimism and energy for a post-Brexit Britain.”
Author: Oliver Reynolds, Economist