UK consumer confidence levels sees shock fall for the third successive month

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October 22, 2021, 5:15 PM UTC

Gfk’s consumer confidence index shows UK consumer confidence levels are falling shockingly amid concerns over rising inflation and food and fuel shortages.

The fall in consumer confidence was led by a 10-point drop compared with September’s index in respondents’ confidence over the country’s economic performance over the next 12 months reached a total score of -26. The significant purchase also fell four points to an overall score of -10. The numbers are based on a survey of 2,000 adults conducted between 1st and 13th October 2021,

In contrast to the purchase index, the savings index stayed the same as September at a score of 22. In October this year, the overall consumer confidence was at -17, representing an overall negative score, and it was four points lower than September. However, it was still significantly better than October 2020’s score of -31.

Gfk’s client strategy director Joe Staton said, “Worryingly for British retailing in the run-up to Christmas; there’s a further decline in the intention to make major purchases. The financial mood of the nation has changed, and consumers could do with some strong tonic to lift their spirits.”

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