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

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October 22, 2021, 5:15 PM GMT+0

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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