Uk Consumer Confidence Weaker Than During Major Recessions Inflation

Although the UK is technically not yet in recession, the latest sentiment barometer from data firm GfK found the public gloomier than at any time since the survey began in January 1974. The monthly look at confidence found that the relatively upbeat mood as Britain emerged from lockdown in 2021 had been replaced by deepening pessimism as annual growth in the cost of living climbed to a 40-year high of 10.1%. In bad news for businesses that rely on consumer spending, public sentiment is now more negative than it was during the recessions of the mid-1970s, early 1980s, early 1990s and in the late 2000s. The period covered by the survey also covers the 1974 three-day week, the 1976 sterling crisis and the pound’s ejection from the European Exchange Rate Mechanism in 1992 – none of which were marked by such a gloomy public mood. The climate has been steadily declining throughout 2022 and fell another three points to a record low of -44 in August. A year ago the index was -8. Consumers are pessimistic about the outlook for their own finances next year (-31) as a further sharp increase in the energy price cap looms in October, but even more pessimistic (-60) about the outlook for the economy. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Joe Staton, director of client strategy at GfK, said there was a fall in all five measures that made up the overall consumer confidence index, reflecting “sharp concern” about the rising cost of living. “The sense of resentment about the UK economy is the biggest driver of these findings. Our sub-measure of the overall economy last year fell month-on-month from December 2021.” Staton said there has been a similar steady decline since late last year in how consumers view the economy, with August’s score of -60 a new record. “These findings show a sense of capitulation, economic events far beyond the control of ordinary people. With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying. Making ends meet has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” The latest emergency consumer spending estimates released on Thursday by the Office for National Statistics showed that restaurant numbers were unchanged in the week to August 14, while credit and debit card payments fell by seven percentage points. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said: “Storm clouds are fast approaching, with higher costs reducing the spending discretion of even more households this autumn and winter. “So far this year, retail sales have somewhat defied very low levels of consumer confidence. However, a widespread reduction in spending capacity will lead to a fall in demand and a change in purchasing behavior, both of which will have an impact on the economy and the wider economy.”

title: “Uk Consumer Confidence Weaker Than During Major Recessions Inflation Klmat” ShowToc: true date: “2022-11-19” author: “Lillie Cinotti”

Although the UK is technically not yet in recession, the latest sentiment barometer from data firm GfK found the public gloomier than at any time since the survey began in January 1974. The monthly look at confidence found that the relatively upbeat mood as Britain emerged from lockdown in 2021 had been replaced by deepening pessimism as annual growth in the cost of living climbed to a 40-year high of 10.1%. In bad news for businesses that rely on consumer spending, public sentiment is now more negative than it was during the recessions of the mid-1970s, early 1980s, early 1990s and in the late 2000s. The period covered by the survey also covers the 1974 three-day week, the 1976 sterling crisis and the pound’s ejection from the European Exchange Rate Mechanism in 1992 – none of which were marked by such a gloomy public mood. The climate has been steadily declining throughout 2022 and fell another three points to a record low of -44 in August. A year ago the index was -8. Consumers are pessimistic about the outlook for their own finances next year (-31) as a further sharp increase in the energy price cap looms in October, but even more pessimistic (-60) about the outlook for the economy. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Joe Staton, director of client strategy at GfK, said there was a fall in all five measures that made up the overall consumer confidence index, reflecting “sharp concern” about the rising cost of living. “The sense of resentment about the UK economy is the biggest driver of these findings. Our sub-measure of the overall economy last year fell month-on-month from December 2021.” Staton said there has been a similar steady decline since late last year in how consumers view the economy, with August’s score of -60 a new record. “These findings show a sense of capitulation, economic events far beyond the control of ordinary people. With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying. Making ends meet has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” The latest emergency consumer spending estimates released on Thursday by the Office for National Statistics showed that restaurant numbers were unchanged in the week to August 14, while credit and debit card payments fell by seven percentage points. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said: “Storm clouds are fast approaching, with higher costs reducing the spending discretion of even more households this autumn and winter. “So far this year, retail sales have somewhat defied very low levels of consumer confidence. However, a widespread reduction in spending capacity will lead to a fall in demand and a change in purchasing behavior, both of which will have an impact on the economy and the wider economy.”

title: “Uk Consumer Confidence Weaker Than During Major Recessions Inflation Klmat” ShowToc: true date: “2022-11-04” author: “Nancy Pera”

Although the UK is technically not yet in recession, the latest sentiment barometer from data firm GfK found the public gloomier than at any time since the survey began in January 1974. The monthly look at confidence found that the relatively upbeat mood as Britain emerged from lockdown in 2021 had been replaced by deepening pessimism as annual growth in the cost of living climbed to a 40-year high of 10.1%. In bad news for businesses that rely on consumer spending, public sentiment is now more negative than it was during the recessions of the mid-1970s, early 1980s, early 1990s and in the late 2000s. The period covered by the survey also covers the 1974 three-day week, the 1976 sterling crisis and the pound’s ejection from the European Exchange Rate Mechanism in 1992 – none of which were marked by such a gloomy public mood. The climate has been steadily declining throughout 2022 and fell another three points to a record low of -44 in August. A year ago the index was -8. Consumers are pessimistic about the outlook for their own finances next year (-31) as a further sharp increase in the energy price cap looms in October, but even more pessimistic (-60) about the outlook for the economy. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Joe Staton, director of client strategy at GfK, said there was a fall in all five measures that made up the overall consumer confidence index, reflecting “sharp concern” about the rising cost of living. “The sense of resentment about the UK economy is the biggest driver of these findings. Our sub-measure of the overall economy last year fell month-on-month from December 2021.” Staton said there has been a similar steady decline since late last year in how consumers view the economy, with August’s score of -60 a new record. “These findings show a sense of capitulation, economic events far beyond the control of ordinary people. With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying. Making ends meet has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” The latest emergency consumer spending estimates released on Thursday by the Office for National Statistics showed that restaurant numbers were unchanged in the week to August 14, while credit and debit card payments fell by seven percentage points. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said: “Storm clouds are fast approaching, with higher costs reducing the spending discretion of even more households this autumn and winter. “So far this year, retail sales have somewhat defied very low levels of consumer confidence. However, a widespread reduction in spending capacity will lead to a fall in demand and a change in purchasing behavior, both of which will have an impact on the economy and the wider economy.”

title: “Uk Consumer Confidence Weaker Than During Major Recessions Inflation Klmat” ShowToc: true date: “2022-12-06” author: “Edward Montoya”

Although the UK is technically not yet in recession, the latest sentiment barometer from data firm GfK found the public gloomier than at any time since the survey began in January 1974. The monthly look at confidence found that the relatively upbeat mood as Britain emerged from lockdown in 2021 had been replaced by deepening pessimism as annual growth in the cost of living climbed to a 40-year high of 10.1%. In bad news for businesses that rely on consumer spending, public sentiment is now more negative than it was during the recessions of the mid-1970s, early 1980s, early 1990s and in the late 2000s. The period covered by the survey also covers the 1974 three-day week, the 1976 sterling crisis and the pound’s ejection from the European Exchange Rate Mechanism in 1992 – none of which were marked by such a gloomy public mood. The climate has been steadily declining throughout 2022 and fell another three points to a record low of -44 in August. A year ago the index was -8. Consumers are pessimistic about the outlook for their own finances next year (-31) as a further sharp increase in the energy price cap looms in October, but even more pessimistic (-60) about the outlook for the economy. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Joe Staton, director of client strategy at GfK, said there was a fall in all five measures that made up the overall consumer confidence index, reflecting “sharp concern” about the rising cost of living. “The sense of resentment about the UK economy is the biggest driver of these findings. Our sub-measure of the overall economy last year fell month-on-month from December 2021.” Staton said there has been a similar steady decline since late last year in how consumers view the economy, with August’s score of -60 a new record. “These findings show a sense of capitulation, economic events far beyond the control of ordinary people. With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying. Making ends meet has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” The latest emergency consumer spending estimates released on Thursday by the Office for National Statistics showed that restaurant numbers were unchanged in the week to August 14, while credit and debit card payments fell by seven percentage points. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said: “Storm clouds are fast approaching, with higher costs reducing the spending discretion of even more households this autumn and winter. “So far this year, retail sales have somewhat defied very low levels of consumer confidence. However, a widespread reduction in spending capacity will lead to a fall in demand and a change in purchasing behavior, both of which will have an impact on the economy and the wider economy.”

title: “Uk Consumer Confidence Weaker Than During Major Recessions Inflation Klmat” ShowToc: true date: “2022-12-15” author: “George Capone”

Although the UK is technically not yet in recession, the latest sentiment barometer from data firm GfK found the public gloomier than at any time since the survey began in January 1974. The monthly look at confidence found that the relatively upbeat mood as Britain emerged from lockdown in 2021 had been replaced by deepening pessimism as annual growth in the cost of living climbed to a 40-year high of 10.1%. In bad news for businesses that rely on consumer spending, public sentiment is now more negative than it was during the recessions of the mid-1970s, early 1980s, early 1990s and in the late 2000s. The period covered by the survey also covers the 1974 three-day week, the 1976 sterling crisis and the pound’s ejection from the European Exchange Rate Mechanism in 1992 – none of which were marked by such a gloomy public mood. The climate has been steadily declining throughout 2022 and fell another three points to a record low of -44 in August. A year ago the index was -8. Consumers are pessimistic about the outlook for their own finances next year (-31) as a further sharp increase in the energy price cap looms in October, but even more pessimistic (-60) about the outlook for the economy. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Joe Staton, director of client strategy at GfK, said there was a fall in all five measures that made up the overall consumer confidence index, reflecting “sharp concern” about the rising cost of living. “The sense of resentment about the UK economy is the biggest driver of these findings. Our sub-measure of the overall economy last year fell month-on-month from December 2021.” Staton said there has been a similar steady decline since late last year in how consumers view the economy, with August’s score of -60 a new record. “These findings show a sense of capitulation, economic events far beyond the control of ordinary people. With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying. Making ends meet has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” The latest emergency consumer spending estimates released on Thursday by the Office for National Statistics showed that restaurant numbers were unchanged in the week to August 14, while credit and debit card payments fell by seven percentage points. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said: “Storm clouds are fast approaching, with higher costs reducing the spending discretion of even more households this autumn and winter. “So far this year, retail sales have somewhat defied very low levels of consumer confidence. However, a widespread reduction in spending capacity will lead to a fall in demand and a change in purchasing behavior, both of which will have an impact on the economy and the wider economy.”