Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Consumer confidence slips as shoppers lack 'get-up and-go'

Consumer confidence slipped in October as the economic outlook remains uncertain and shoppers failed to show signs of ‘get-up-and-go.’

The long running GfK consumer confidence survey found the overall index fell to -10, down from -9 in September. Respondents’ view of the general economic situation over the next year deteriorated, as did their view of the situation over the past 12 months.

Joe Staton, head of market dynamics at GfK, warned about spiralling credit card use ahead of the crucial Christmas trading period.

“It’s no surprise that the Overall Index Score continues to bump along in negative territory this month. As concerns about the wider economic prospects for the UK economy dampen our outlook, consumers are showing no real ‘get-up-and-go’.

“Surging credit card use is fueling spending at the expense of our appetite for saving, which is growing at the slowest rate since the start of the 2008/2009 financial crisis. We are now entering the crucial Christmas trading season and it will be a testing time for retailers and consumers alike. Will consumers carry-on shopping or start to cut-back in the face of mounting pressure on our pockets?”

 

 

 

Readers' comments (1)

  • Recession for early/mid 2018 is likely on current evidence.

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.