The GfK Consumer Confidence indicator in the United Kingdom rose slightly to -44 in November 2022, improving for the second straight month as political concerns eased, though it remained near a record low of -49 reached in September as the cost-of-living crisis and a dim economic outlook weighed on sentiment. Joe Staton, client strategy director at GfK, said: “This month's fillip is likely to reflect nothing more than a collective sigh of relief as a new prime minister takes charge following the alarming fiscal antics we saw in September.” However, he noted that this improvement is not expected to be sustained as external factors have not changed much. All five components of the barometer improved in November including personal finances over the next year, but concerns about surging inflation and a weak economy persisted. UK inflation hit a 41-year high of 11.1% in October, while the country’s economy unexpectedly contracted by 0.2% QoQ in the third quarter. source: GfK Group

Consumer Confidence in the United Kingdom averaged -10.24 points from 1981 until 2022, reaching an all time high of 10.00 points in June of 1987 and a record low of -49.00 points in September of 2022. This page provides the latest reported value for - United Kingdom Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.

Consumer Confidence in the United Kingdom is expected to be -48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Consumer Confidence is projected to trend around -12.00 points in 2023 and 1.00 points in 2024, according to our econometric models.

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United Kingdom Consumer Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-10-20 11:01 PM Gfk Consumer Confidence Oct -47 -49 -52 -53
2022-11-18 12:01 AM GfK Consumer Confidence Nov -44 -47 -51
2022-12-16 12:01 AM GfK Consumer Confidence Dec -44 -48


Related Last Previous Unit Reference
Consumer Confidence -44.00 -47.00 points Nov 2022

United Kingdom Consumer Confidence
In the United Kingdom, the consumer confidence survey measures the level of optimism that consumers have about the performance of the economy in the next 12 months. The GfK Consumer Confidence is derived from the survey of about 2,000 consumers which are ask to rate the relative level of past and future economic conditions including personal financial situation, climate for major purchases, overall economic situation and savings level.
Actual Previous Highest Lowest Dates Unit Frequency
-44.00 -47.00 10.00 -49.00 1981 - 2022 points Monthly

News Stream
UK Consumer Confidence Improves Slightly in Nov
The GfK Consumer Confidence indicator in the United Kingdom rose slightly to -44 in November 2022, improving for the second straight month as political concerns eased, though it remained near a record low of -49 reached in September as the cost-of-living crisis and a dim economic outlook weighed on sentiment. Joe Staton, client strategy director at GfK, said: “This month's fillip is likely to reflect nothing more than a collective sigh of relief as a new prime minister takes charge following the alarming fiscal antics we saw in September.” However, he noted that this improvement is not expected to be sustained as external factors have not changed much. All five components of the barometer improved in November including personal finances over the next year, but concerns about surging inflation and a weak economy persisted. UK inflation hit a 41-year high of 11.1% in October, while the country’s economy unexpectedly contracted by 0.2% QoQ in the third quarter.
2022-11-18
UK Consumer Confidence Remains Near Record Low
The GfK Consumer Confidence indicator in the United Kingdom rose slightly to - 47 in October 2022, its first improvement in nearly a year, but remained near a record low of -49 reached in September as British households contend with the cost of living crisis and heightened political and economic uncertainty. The October reading came in above analysts’ forecasts, who expected the index to decline further to -52. Joe Staton, client strategy director at GfK, said that all core measures remain severely depressed by historical standards, even as three of the five measures that form the gauge increased in October. Consumer expectations for the general economic situation and the personal financial situation over the next year edged up, though the major purchase index slipped. Inflation remains to be the top concern for consumers, which accelerated to 10.1% in September, while political and economic instability also weighed on sentiment.
2022-10-20
UK Consumer Confidence Hits New Record Low
The GfK Consumer Confidence indicator in the United Kingdom fell to -49 in September 2022 from -44 in August, hitting a new record low as British households continued to grapple with the cost of living crisis and wider economic uncertainties. The September figure also defied expectations for a slight improvement to -42 following the government’s £150 billion package aimed at freezing household energy bills. Joe Staton, client strategy director at GfK, said: “consumers are buckling under the pressure of the UK's growing cost-of-living crisis driven by rapidly rising food prices, domestic fuel bills and mortgage payments.” The data came a day after the Bank of England lifted its policy rate by 50 basis points to 2.25% to combat high inflation, making borrowing costs more expensive for business and households. The BoE also expects UK inflation to peak at 11% in October from its current level of 9.9%.
2022-09-22