United Kingdom Consumer Confidence December 2019

United Kingdom

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.”

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.4% in 2020, unchanged from last month’s forecast, and 1.5% in 2021.

Author:, Economist

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United Kingdom Consumer Confidence Chart

United Kingdom Consumer Confidence December 2019

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

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