29 May 2024, 03:54
By Furniture News Jul 31, 2014

July sees consumer confidence drop

GfK’s UK Consumer Confidence Index has decreased three points this month to -2, and all five measures used to calculate the Index Score saw decreases this month.

Nick Moon, MD of social research at GfK, comments: “No sooner had the index crossed into positive territory last month – for the first time in nearly 10 years – than it fell back into the negative, standing this month at -2.

"All five of the component parts of the index fell this month, with four-point drops in both the questions about the country’s general economic situation being particularly noticeable. The almost relentless rise of the last six months couldn’t continue indefinitely, and the Government will be hoping this is just a temporary setback rather than the forerunner of a wider decline in confidence.”

The index measuring changes in personal finances during the last 12 months has decreased two points this month to -11, five points higher than July 2013.

The forecast for personal finances over the next 12 months has decreased one point this month to two, two points higher than this time last year.

The measure for the General Economic Situation of the country during the last 12 months has decreased four points this month to -7 – 28 points higher than July 2013.

Expectations for the General Economic Situation over the next 12 months have decreased four points this month to nine, 18 points higher than this time last year.

The Major Purchase Index has decreased one point this month to -3, 18 points higher than this time last year.

The Savings Index has decreased two points this month to -9, which is five points higher than July 2013.

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