The GfK consumer confidence index in the UK held steady for a third month at -13 in April 2019, slightly below market expectations of -12. Increases in indicators measuring economic situation over next 12 months (-34 vs -36 in March) and over last 12 months (-30 vs -33) were offset by declines in indexes measuring personal finances over next 12 months (0 vs 2) and last 12 months (-1 vs 0), and big purchase climate (-1 vs 1). “We have reported a -13 headline for the past three months and it appears it’s a case of ‘Keep Calm’ when it comes to how confident consumers are feeling right now. Despite political carry-on in the Westminster bubble with the clock ticking on Britain’s eventual departure from the EU, consumers are holding firm and remain unshaken by the daily headlines of turmoil and intrigue, although we remain in negative territory,” said Joe Staton, Client Strategy Director at GfK. Consumer Confidence in the United Kingdom averaged -9.03 Index Points from 1981 until 2019, reaching an all time high of 10 Index Points in June of 1987 and a record low of -39 Index Points in July of 2008.
Consumer Confidence in the United Kingdom is expected to be -12.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in the United Kingdom to stand at -10.00 in 12 months time. In the long-term, the United Kingdom Consumer Confidence is projected to trend around -2.00 Index Points in 2020, according to our econometric models.