GfK Consumer Confidence for November
Comes in at 1 ............... yes, got it early! I'm gonna telephone Janet and see if I can get the early result of the December FOMC. I may be pushing my luck though.
- expected was 2
- prior 2
Three of the measures used to calculate the Index saw decreases this month
- one increased
- other one was unchanged
Comments from Joe Staton, Head of Market Dynamics at GfK:
- From summer's 15-year high, consumer confidence in the UK has continued to slide to +1 this month.
- Overall, despite the good news agenda of rock-bottom inflation, falling fuel prices and higher wage growth boosting spending power, confidence appears to be depressed by a combination of wider economic, political and social events.
- However, one area that continues to hold up is our expectation for our personal financial situation for the next 12 months.
- Shoppers also continue to tell us that now is the right time to make major purchase - such as furniture or electrical goods - with this indicator standing nearly 10 points higher than in November last year.
- This suggests that lots of households up and down the land will be sitting on a new three-piece suite this December to watch Downton Abbey on an ever wider TV screen while digesting their Christmas turkey and all the trimmings
more to come
