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UK DATA: GfK Consumer Confidence Weakest Since March 2024

UK DATA
Data BulletCEEMEABulletUKGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

UK GfK Consumer Confidence fell for the second consecutive month to -21 (vs -20 prior), making it the lowest since March 2024.

  • 3 of 5 subcomponents fell. The key future indicators were broadly unchanged, with the major purchase index up by 2 points, whilst personal financial situation over the next year is up 1 point and general economic situation is down one point relative to September.
  • It looks as though the trend in consumer confidence and CPI is breaking down as CPI returns closer to target, as it did between 2020 and 2021.
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UK GfK Consumer Confidence fell for the second consecutive month to -21 (vs -20 prior), making it the lowest since March 2024.

  • 3 of 5 subcomponents fell. The key future indicators were broadly unchanged, with the major purchase index up by 2 points, whilst personal financial situation over the next year is up 1 point and general economic situation is down one point relative to September.
  • It looks as though the trend in consumer confidence and CPI is breaking down as CPI returns closer to target, as it did between 2020 and 2021.