The GfK consumer confidence index in the UK declined to -13 in June 2019, erasing a 3-point rebound to -10 in the previous month and missing market consensus of -11, as global growth concerns and domestic policy uncertainty weighed on sentiment. All five subindices dropped from the previous month: personal finances over the last 12 months (-1 vs 3) and over the next 12 months (2 vs 5); economic situation over the last 12 months (-32 vs -30) and over the next 12 months (-33 vs -29); and big purchases climate (-2 vs 1)."While UK consumers continue to remain concerned about the wider economy, over which the woman or man in the street has no control, of greater worry are the falls in the measures for personal finance. These better reflect our hopes and fears for our everyday financial futures and this, coupled with a decline in the Major Purchase Index, could point to a turbulent time for the economy over the summer months.” said Joe Staton, Client Strategy Director at GfK. Consumer Confidence in the United Kingdom averaged -9.04 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 -9.00 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 -10.00 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.