UK’s consumer trust has been falling down this month, notwithstanding the rise of two points in April. The consumer confidence category has climbed to -1, says GfK. This is considered as poor while comparing to last year.
An unmoved score of 7 has evidenced by the consumer confidence index, as far as the personal finances predictions are concerned. On the other hand, the general economic circumstance’s anticipations are increased to -13. As far as twelve months are concerned, this outcome falls short.
On the other hand, purchase index is increased to nine with the addition of 4 points. This is 7 points more when comparing to last year. This is the only statement that gives a breath out to the sellers.
The GfK’s Market Dynamics Head, Joe Staton, has stated that consumer confidence remains negative this month, regardless of purchase index has increased to 4 points. Idealists would easily come to know that, keenness of making big purchases and reviews on personal finances was on the lift last year, he added.
Normally, consumers will be very confident in the areas where they have a control over. Nevertheless, naysayer will stress that the story of the general economic condition is dissimilar. In spite of the small increase in purchasing index, overall consumer confidence and views on economic matters stay very low this year.
Is it due to Brexit Jinx are cruel at business? I would say that, absolutely yes. I expect that this situation will change while the EU referendum comes into action on 23rd June 2016, Joe Staton added.