-GfK/NOP: UK Consumer confidence unchanged at -29 in July
LONDON (MNI) – Consumer confidence remained stuck at low levels in
July as Britons continued to worry about the state of their personal
finances and the outlook for the economy, according to the latest
consumer confidence index report from GfK.
The July GfK Consumer Confidence index remained at -29, way below
the survey’s long run average of -9. The GfK index has now held close
to the -30 level for an entire 13-month spell – extending the worst run
in its 40-year history. The headline reading was in line with analysts’
median forecasts.
The index measuring changes in personal finances over the last 12
months remained at -23, only slightly higher than the -25 level hit a
year ago.
The forecast for personal finances over the next twelve months has
increased one point to -8, just four points higher than this time last
year.
The expectations reading for the general economic situation over
the next twelve months has increased one point to -30, three points
lower than in July 2011.
Interviewing for the survey was carried out during July 6 – 15,
before the July 25 release of the preliminary GDP data which showed the
UK economy fell even deeper into recession in the second quarter.
Commenting on the data, Nick Moon, Managing Director of Social
Research at GfK, said that consumer confidence remains stagnant despite
a raft of initiatives to boost economic activity.
“This is the third month in a row the Index has not changed and
consumer confidence has been stuck between -29 or -31 for the last seven
months. This is a clear indication that all attempts by the Government
to improve the situation in the UK aren’t making any impressions on the
public mood,” he said.
–London newsroom: 4420 7862 7479; e-mail:wwilkes@marketnews.com
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