U.K. consumer confidence weakened this month as Britons’ outlook for the economy deteriorated, according to GfK NOP Ltd.
The research group’s household-sentiment index fell to minus 2 from minus 1 in September.
A measure of consumers’ expectations for the economy over the next 12 months dropped 2 points to 2, the lowest since February. U.K. economic growth cooled in the third quarter and threats to the recovery from the euro-area slump have mounted since then.
With a national election due in May, Prime Minister David Cameron is counting on the recovery to lift consumers’ mood even as sluggish wage growth persists.
GfK’s gauge has oscillated within two points either side of minus 1 for seven months after surging over the previous year.
That period of improvement “seems to have run completely out of steam,” said Nick Moon, managing director of social research at GfK.
“This is not, of course, to say that it will not start to rise again soon, but the opportunities for it to do so before we get seriously into the general-election campaign are fast running out,” he said.
“It is likely that people will have to start feeling personally better off if the index is to get solidly into positive territory.”
A measure of Britons’ outlook for their personal finances over the next 12 months gained 3 points this month to 4.
bloomberg.com
A measure of consumers’ expectations for the economy over the next 12 months dropped 2 points to 2, the lowest since February. U.K. economic growth cooled in the third quarter and threats to the recovery from the euro-area slump have mounted since then.
With a national election due in May, Prime Minister David Cameron is counting on the recovery to lift consumers’ mood even as sluggish wage growth persists.
GfK’s gauge has oscillated within two points either side of minus 1 for seven months after surging over the previous year.
That period of improvement “seems to have run completely out of steam,” said Nick Moon, managing director of social research at GfK.
“This is not, of course, to say that it will not start to rise again soon, but the opportunities for it to do so before we get seriously into the general-election campaign are fast running out,” he said.
“It is likely that people will have to start feeling personally better off if the index is to get solidly into positive territory.”
A measure of Britons’ outlook for their personal finances over the next 12 months gained 3 points this month to 4.
bloomberg.com
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