You are here: Home - Investing -

UK consumer confidence ‘stuck in a rut’ in July

Written by:
British consumers´ spirits seem to be stuck in a rut along with the economy, according to GfK´s latest survey results.

This comes as the economy is in its third consecutive quarter of economic contraction and the worst double-dip recession since modern records began.

According to the survey, UK consumer confidence remained unchanged at -29 points in July, as expected by the market consensus, although that is two points worse than at this same time last year.

The outlook for Brit´s personal finances over the next 12 months edged up to -8 from -9 the last time around, along with gauges measuring the climate for undertaking major purchases (to -26 from -28) and expectations for the economy in the next 12 months (to -26 from -28).

However, Nick Moon, managing director of social research at GfK, said “Things are looking very bleak for the government.

“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.”

Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
IFA who got clients to sign suitability waiver banned

A sole trader independent financial adviser has been banned by the Financial Services Authority (FSA) and fined £10,500 for lacking...