In a monthly survey by data provider GfK, the August index score for overall consumer confidence fell to minus 44 from minus 41 the previous month. This was the lowest reading since equivalent data were first produced in 1974. The confidence figures were released on Friday shortly before retail sales data published by the Office for National Statistics showed spending rose in July. The figures were boosted by online offers, but the general trend was for people to shop less. The volume of goods sold rose 0.3 percent in the month, beating expectations that it would extend the decline in May and June, but, in the most recent three-month period, sales fell 1.2 percent from previous three months. Stripping that out, the volume of retail sales fell 3.4% in July on a year-over-year basis. The value of sales increased by 7.8% over the same period, highlighting the rise in prices on the high street. The fall in consumer confidence reflects a gloomy mood across the UK economy, with prices rising at double-digit rates, the biggest fall in real wages for more than 20 years, a resurgence of strikes and growing pressure on public services . The GfK survey was conducted between August 1 and August 12, when the Bank of England predicted the economy would soon slide into a recession lasting more than a year as households struggled to pay their energy bills, which likely will increase more than 75 percent in October. All five items that make up the overall consumer confidence index fell, prompting Joe Staton, director of GfK, to say: “The sense of resentment about the UK economy is the biggest driver of these findings.” “[They] they show a sense of capitulation, of economic events beyond the control of ordinary people,” he added. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said the decline in confidence would likely weaken retail sales and lead to “change in shopping behaviour, both of which will have an impact on the economy of the road and in the wider economy”. When people were asked about their personal financial situation for the GfK survey, their scores over the past year were on par with the low points of the 2008-09 financial crisis and the 2012 austerity period. But expectations for their status next year will cause more concern. That number dropped to minus 31, significantly worse than in any of those previous periods. The negative score reflects many more people who say their personal finances will get worse rather than better over the next year. “With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying,” said GfK’s Staton. “Just getting by has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” Households were equally unhappy about the overall economic outlook, with the score falling every month since December last year. In August, it stood at minus 68, worse than at the height of the first wave of coronavirus when the UK was in strict lockdown, though better than during the global financial crisis.

Households’ assessment of the UK’s economic outlook next year was minus 60, gloomier than at any time since GfK began collecting the data and 54 points lower than in August 2021. With such low confidence in their finances and the economic situation, households were naturally unlikely to say that now was the right time to make a big purchase. That sub-index fell to minus 38, down 4 points on the month and from minus 3 a year earlier. Conversely, with interest rates rising, people increasingly believe now is a good time to save. If many people increase savings and reduce spending at the same time, it will accelerate the expected economic downturn this fall.

title: “Uk Consumer Confidence Hits Low As Household Mood Darkens Klmat” ShowToc: true date: “2022-10-21” author: “Lucinda Parker”

In a monthly survey by data provider GfK, the August index score for overall consumer confidence fell to minus 44 from minus 41 the previous month. This was the lowest reading since equivalent data were first produced in 1974. The confidence figures were released on Friday shortly before retail sales data published by the Office for National Statistics showed spending rose in July. The figures were boosted by online offers, but the general trend was for people to shop less. The volume of goods sold rose 0.3 percent in the month, beating expectations that it would extend the decline in May and June, but, in the most recent three-month period, sales fell 1.2 percent from previous three months. Stripping that out, the volume of retail sales fell 3.4% in July on a year-over-year basis. The value of sales increased by 7.8% over the same period, highlighting the rise in prices on the high street. The fall in consumer confidence reflects a gloomy mood across the UK economy, with prices rising at double-digit rates, the biggest fall in real wages for more than 20 years, a resurgence of strikes and growing pressure on public services . The GfK survey was conducted between August 1 and August 12, when the Bank of England predicted the economy would soon slide into a recession lasting more than a year as households struggled to pay their energy bills, which likely will increase more than 75 percent in October. All five items that make up the overall consumer confidence index fell, prompting Joe Staton, director of GfK, to say: “The sense of resentment about the UK economy is the biggest driver of these findings.” “[They] they show a sense of capitulation, of economic events beyond the control of ordinary people,” he added. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said the decline in confidence would likely weaken retail sales and lead to “change in shopping behaviour, both of which will have an impact on the economy of the road and in the wider economy”. When people were asked about their personal financial situation for the GfK survey, their scores over the past year were on par with the low points of the 2008-09 financial crisis and the 2012 austerity period. But expectations for their status next year will cause more concern. That number dropped to minus 31, significantly worse than in any of those previous periods. The negative score reflects many more people who say their personal finances will get worse rather than better over the next year. “With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying,” said GfK’s Staton. “Just getting by has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” Households were equally unhappy about the overall economic outlook, with the score falling every month since December last year. In August, it stood at minus 68, worse than at the height of the first wave of coronavirus when the UK was in strict lockdown, though better than during the global financial crisis.

Households’ assessment of the UK’s economic outlook next year was minus 60, gloomier than at any time since GfK began collecting the data and 54 points lower than in August 2021. With such low confidence in their finances and the economic situation, households were naturally unlikely to say that now was the right time to make a big purchase. That sub-index fell to minus 38, down 4 points on the month and from minus 3 a year earlier. Conversely, with interest rates rising, people increasingly believe now is a good time to save. If many people increase savings and reduce spending at the same time, it will accelerate the expected economic downturn this fall.

title: “Uk Consumer Confidence Hits Low As Household Mood Darkens Klmat” ShowToc: true date: “2022-12-16” author: “Louis York”

In a monthly survey by data provider GfK, the August index score for overall consumer confidence fell to minus 44 from minus 41 the previous month. This was the lowest reading since equivalent data were first produced in 1974. The confidence figures were released on Friday shortly before retail sales data published by the Office for National Statistics showed spending rose in July. The figures were boosted by online offers, but the general trend was for people to shop less. The volume of goods sold rose 0.3 percent in the month, beating expectations that it would extend the decline in May and June, but, in the most recent three-month period, sales fell 1.2 percent from previous three months. Stripping that out, the volume of retail sales fell 3.4% in July on a year-over-year basis. The value of sales increased by 7.8% over the same period, highlighting the rise in prices on the high street. The fall in consumer confidence reflects a gloomy mood across the UK economy, with prices rising at double-digit rates, the biggest fall in real wages for more than 20 years, a resurgence of strikes and growing pressure on public services . The GfK survey was conducted between August 1 and August 12, when the Bank of England predicted the economy would soon slide into a recession lasting more than a year as households struggled to pay their energy bills, which likely will increase more than 75 percent in October. All five items that make up the overall consumer confidence index fell, prompting Joe Staton, director of GfK, to say: “The sense of resentment about the UK economy is the biggest driver of these findings.” “[They] they show a sense of capitulation, of economic events beyond the control of ordinary people,” he added. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said the decline in confidence would likely weaken retail sales and lead to “change in shopping behaviour, both of which will have an impact on the economy of the road and in the wider economy”. When people were asked about their personal financial situation for the GfK survey, their scores over the past year were on par with the low points of the 2008-09 financial crisis and the 2012 austerity period. But expectations for their status next year will cause more concern. That number dropped to minus 31, significantly worse than in any of those previous periods. The negative score reflects many more people who say their personal finances will get worse rather than better over the next year. “With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying,” said GfK’s Staton. “Just getting by has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” Households were equally unhappy about the overall economic outlook, with the score falling every month since December last year. In August, it stood at minus 68, worse than at the height of the first wave of coronavirus when the UK was in strict lockdown, though better than during the global financial crisis.

Households’ assessment of the UK’s economic outlook next year was minus 60, gloomier than at any time since GfK began collecting the data and 54 points lower than in August 2021. With such low confidence in their finances and the economic situation, households were naturally unlikely to say that now was the right time to make a big purchase. That sub-index fell to minus 38, down 4 points on the month and from minus 3 a year earlier. Conversely, with interest rates rising, people increasingly believe now is a good time to save. If many people increase savings and reduce spending at the same time, it will accelerate the expected economic downturn this fall.

title: “Uk Consumer Confidence Hits Low As Household Mood Darkens Klmat” ShowToc: true date: “2022-11-17” author: “Donna Barrett”

In a monthly survey by data provider GfK, the August index score for overall consumer confidence fell to minus 44 from minus 41 the previous month. This was the lowest reading since equivalent data were first produced in 1974. The confidence figures were released on Friday shortly before retail sales data published by the Office for National Statistics showed spending rose in July. The figures were boosted by online offers, but the general trend was for people to shop less. The volume of goods sold rose 0.3 percent in the month, beating expectations that it would extend the decline in May and June, but, in the most recent three-month period, sales fell 1.2 percent from previous three months. Stripping that out, the volume of retail sales fell 3.4% in July on a year-over-year basis. The value of sales increased by 7.8% over the same period, highlighting the rise in prices on the high street. The fall in consumer confidence reflects a gloomy mood across the UK economy, with prices rising at double-digit rates, the biggest fall in real wages for more than 20 years, a resurgence of strikes and growing pressure on public services . The GfK survey was conducted between August 1 and August 12, when the Bank of England predicted the economy would soon slide into a recession lasting more than a year as households struggled to pay their energy bills, which likely will increase more than 75 percent in October. All five items that make up the overall consumer confidence index fell, prompting Joe Staton, director of GfK, to say: “The sense of resentment about the UK economy is the biggest driver of these findings.” “[They] they show a sense of capitulation, of economic events beyond the control of ordinary people,” he added. Linda Ellett, head of UK consumer markets, retail and leisure at KPMG, said the decline in confidence would likely weaken retail sales and lead to “change in shopping behaviour, both of which will have an impact on the economy of the road and in the wider economy”. When people were asked about their personal financial situation for the GfK survey, their scores over the past year were on par with the low points of the 2008-09 financial crisis and the 2012 austerity period. But expectations for their status next year will cause more concern. That number dropped to minus 31, significantly worse than in any of those previous periods. The negative score reflects many more people who say their personal finances will get worse rather than better over the next year. “With headlines revealing record inflation eroding household purchasing power, the strain on the personal finances of many in the UK is worrying,” said GfK’s Staton. “Just getting by has become a nightmare and the crisis of confidence will only worsen with the dark days of autumn and the colder months of winter.” Households were equally unhappy about the overall economic outlook, with the score falling every month since December last year. In August, it stood at minus 68, worse than at the height of the first wave of coronavirus when the UK was in strict lockdown, though better than during the global financial crisis.

Households’ assessment of the UK’s economic outlook next year was minus 60, gloomier than at any time since GfK began collecting the data and 54 points lower than in August 2021. With such low confidence in their finances and the economic situation, households were naturally unlikely to say that now was the right time to make a big purchase. That sub-index fell to minus 38, down 4 points on the month and from minus 3 a year earlier. Conversely, with interest rates rising, people increasingly believe now is a good time to save. If many people increase savings and reduce spending at the same time, it will accelerate the expected economic downturn this fall.