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MNI BRIEF: UK Consumer Sentiment Falls Further In November

(MNI) LONDON
LONDON (MNI)

UK consumer sentiment dropped further in November by 2pt to -33 in the middle of the second lockdown, the Gfk reported on Friday. The index hit the lowest level since May and the downtick was mainly driven by a sharp deterioration of household's opinion regarding their personal finances.

Consumer's concerns about their financial situation over the last 12 month and over the next year both declined sharply by 2pt and 7pt, respectively. Additionally, household's intentions to make major purchases eased as well by 1pt, registering in deep negative territory. Neither development bodes well with future spending, which will come as disappointing news for already struggling retailers ahead of Christmas, Gfk adds.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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