United Kingdom: Consumer sentiment remains steady in August
August 31, 2012
In August, the GfK NOP consumer confidence index remained unchanged over July, which marks the fourth straight month with sentiment steady at minus 29 points. The reading, however, undershot market expectations which had the index stepping up to minus 27 points. Respondents were more upbeat about the present and future state of the overall economy along as well as their current personal financial situation. In contrast, expectations for their personal financial situation over the next 12 months dropped along their willingness for making major purchases. GfK NOP recognized that the reading, while subdued, might have also been positively affected by the Olympic games in London. As a result, GfK NOP noted that the low level of consumer sentiment "mixed with grim sales figures from the last month paints a worrying picture for retailers as they head towards Autumn. According to GfK NOP, it's clear that consumer confidence is trapped in a spiral of depression and it doesn't look like improving any time soon.