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UK DATA: GfK Consumer Confidence Weaker Than Expected

UK DATA
CEEMEAData BulletBulletUKGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

UK GfK Consumer Confidence deteriorated below expectations to -20 (vs -13 consensus and prior) in September - returning it to the weakest since March 2024.

  • All 5 subcomponents deteriorated this month, although they all remained above levels seen in September 2023. In particular, the 'Personal Financial Situation over next 12 months' score fell 9 points to -3, and Major Purchase Index also fell 10 points to -23.
  • Meanwhile, the 'General economic situation over next 12 months' score fell 12 points to -37.
  • These sharp falls in the forward looking indicators may be indicating lower consumption and retail sales and in turn softer GDP growth in the second half of this year.
  • September's survey was conducted among a sample of 2,003 individuals from August 30 to September 13.
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UK GfK Consumer Confidence deteriorated below expectations to -20 (vs -13 consensus and prior) in September - returning it to the weakest since March 2024.

  • All 5 subcomponents deteriorated this month, although they all remained above levels seen in September 2023. In particular, the 'Personal Financial Situation over next 12 months' score fell 9 points to -3, and Major Purchase Index also fell 10 points to -23.
  • Meanwhile, the 'General economic situation over next 12 months' score fell 12 points to -37.
  • These sharp falls in the forward looking indicators may be indicating lower consumption and retail sales and in turn softer GDP growth in the second half of this year.
  • September's survey was conducted among a sample of 2,003 individuals from August 30 to September 13.