GfK’s long-running Consumer Confidence Index dropped three points in April to -3. All of the measures used to calculate the Index saw decreases this month.
Joe Staton, Head of Market Dynamics at GfK, says: “Mixed messages about a post-Brexit world and the on-going Eurozone crisis are casting a cloud over our economy. After a continuous 15 month showing of positive numbers in the barometer, April 2016 sees the UK drop back into negative territory with a -3 score. The biggest dent to confidence comes from consumers’ depression about the general economic situation in the UK for the next year, dropping 20 points in 12 months. Against this backdrop, even faith in our personal economic fortunes has taken a battering contributing to the overall fall in the numbers. Trends in confidence show our degree of optimism about the state of the economy and this indicator will make for interesting reading between now and the EU referendum on June 23rd.”
UK Consumer Confidence Measures – April 2016
The Overall Index Score has dropped three points this month to -3.
Personal Financial Situation
The index measuring changes in personal finances during the last 12 months has decreased by one point to +3; this is three points higher than April 2015.
The forecast for personal finances over the next 12 months has decreased by two points to +7 this month; this is the same as this time last year.
General Economic Situation
The measure for the General Economic Situation of the country during the last 12 months has decreased by four points this month to -14; this is 17 points lower than April 2015.
Expectations for the General Economic Situation over the next 12 months have decreased by two points to -14 this month; this is 20 points lower than April 2015.
Major Purchase Index
The Major Purchase Index has decreased six points this month to 5; this is one point lower than this time last year.
The Savings Index is seven points higher this month at 5; which is also seven points higher than April 2015.