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.
UK consumer confidence declined sharply in October, slumping to its lowest level since February, the GfK survey released Friday showed. The overall index slipped to -17 from -13 last month. However, confidence remains well above the -31 touched in Oct 2020.
Measures of personal financial situations, both past and future, also dropped, a sign of "red flags going up," Joe Staton, client strategy director at GfK, told MNI. "It's the financial mood of the moment." Consumers facing a panoply of bad economic news -- fuel shortages, rising inflation, the possibility of higher interest rates, and an accelerated spread of Covid -- "tend to stop spending," he added.
An index of consumers personal financial situation over the past 12 months fell one point to -5, while personal situations 12-months hence dropped four point in October to 1, only slightly above the level a year earlier.
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.