Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MNI (LONDON) - UK consumer confidence edged higher in July, but the outcome was based largely on data from the first week of the month and wasn't impacted by the result of the UK's July 4 general election, the head of a leading survey said Thursday.
"Lets look at the data overall as a holding month, with most of the survey completed before the actual election results were known," GfK head of Client Strategy Joe Staton told MNI.
"July’s consumer confidence poll suggests a note of caution as people wait to see exactly how the UK’s new government will affect the wider economy and their personal finances,” he added. (See MNI INTERVIEW: UK Fiscal Headroom Only Clear After Spending Review)
The GfK Consumer Confidence Index increased by one point to -13 in July, largely as a result of a pick-up in a willingness of households to make major purchases.
TheMajor Purchase Index rose seven points to -16 --16 points higher than this month last year, and was "potentially good news for retailers that could translate into improved footfall in the months to come," Staton said.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.