The GfK consumer confidence in the United Kingdom fell 3 points from a month earlier to -14 in August 2019, below market consensus of -12. It was a seven-month low with all five measures declining, as growth concerns and domestic policy uncertainty mainly over Brexit continue to weigh on sentiment. The measure for the country’s general economic situation during the last 12 months dropped 2 points this month to -34, whereas expectations for the general economic situation over the next 12 months fell 6 points to -38. Also, the gauge for personal fiances over the last 12 months declined 2 points to -1 and that for personal finances over the next 12 months slumped 5 points to 2. The big purchases climate sub-index went down 3 points to 1. “Until Brexit leaves the front pages – whenever that will be – consumers can be forgiven for feeling nervous not just about the wider economy but also about their financial situation,” said Joe Stanton, Client Strategy Director at GfK. Consumer Confidence in the United Kingdom averaged -9.06 Index Points from 1981 until 2019, reaching an all time high of 10 Index Points in June of 1987 and a record low of -39 Index Points in July of 2008.
Consumer Confidence in the United Kingdom is expected to be -14.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in the United Kingdom to stand at -12.00 in 12 months time. In the long-term, the United Kingdom Consumer Confidence is projected to trend around -2.00 Index Points in 2020, according to our econometric models.