UK consumer confidence still slipping as uncertainty bites

Consumer confidence in the UK has fallen by five points since this time last year, according to the long-running GfK Consumer Confidence Index, which says the general economic outlook is at a seven year low.

The lack of certainty, due to the UK’s current political situation regarding Brexit, is msking it hard for both individuals and companies to make plans for the future, GfK suggests.

“With the Overall Index Score stuck at -14 this month, UK consumers remain in a ‘wait and see’ holding pattern in the face of political chaos in Westminster.  Although we’re feeling slightly more confident about our personal finances – thanks to the effect of strong employment, low interest and inflation rates, and rising household incomes – concerns about the wider economic prospects for the country continue to weigh and depress the Overall Index Score,” says GfK client strategy director Joe Staton.