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Consumer confidence falls further in December

Christmas has failed to bring shoppers festive cheer, as consumer confidence slipped one point to -13 in December.

Confidence in the UK has now been in negative figures for almost two years, GfK’s Consumer Confidence Index reveals.

Joe Staton, head of market dynamics at GfK, said: “It has been a slipping and sliding year. The overall index score has slipped from - 7 in January to -13 in December – and not a single positive score in between.

“We need to see several issues move on before the downward trend of the consumer mood changes. We need to have a better sense of how Brexit will pan out, and also of how quickly and how far interest rates will rise. But none of this will be resolved quickly so there’s every likelihood that 2018 will take us lower.”

Readers' comments (2)

  • darren hoggett

    BREXIT has nothing to do with this.

    It is a mixture of less disposable income and confidence. The November Interest rate rise was irresponsible and a big blow for a retail sector that is weak and increasingly desperate.

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  • People are spending less because they are only buying what they need and are prefering to save for the future. Not rocket science. Retailers need to get off their high horse and stop assuming that they always have a product worth buying. Customers aren't falling for their usual gags and they will continue not to for a long time coming. We have long recognised that the way we buy is changing. This is one of those ways. Retailers need to accept that. Economic uncertainty will prevail in consumers' minds for a long time to come. For a generation it is all they have known. So even in a positive economy I don't see this buying behaviour change. People will now choose to save over spending. Retailers need to acknowledge this and stop moaning.

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