Subscribe Login
Retail

UK Consumer Confidence Stuck At Six-Year Low In November: GfK

British consumer confidence remained stuck at its joint-lowest level since 2013 in November as uncertainty around the 12 December election and Brexit weighed on households, a survey showed on Friday.

Market research firm GfK said its consumer confidence index held at -14 in November, as expected in a Reuters poll of economists.

The survey looked in line with other indicators that have painted a subdued picture of the British economy, although a seasonally adjusted version of the GfK survey published by the European Commission on Thursday showed a small rise.

'Wait-And-See' Mode

"In the face of Brexit and election uncertainty, consumers are clearly in a 'wait-and-see' mode," Joe Staton, client strategy director at GfK, said.

Spending by consumers has helped the economy at a time when many companies have cut investment due to a lack of clarity about Brexit. Earlier this week, a measure of retail sales rose to its highest level since April in November.

News by Reuters, edited by Checkout. Click subscribe to sign up for the Checkout print edition.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Enjoy full access to Checkout Magazine, our weekly email news digest, access to all website and app content, and the latest digital magazine for a full 30 days.
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Enjoy full access to Checkout Magazine, our weekly email news digest, access to all website and app content, and the latest digital magazine for a full 30 days.
Enjoy unlimited digital access for 30 days