The GfK Consumer Confidence indicator in the United Kingdom held steady at -41 in July 2022, remaining at a record low as runaway inflation and economic uncertainties continued to dampen sentiment. Joe Staton, client strategy director at GfK, said: “Consumer confidence remains severely depressed this month as the impact of soaring food and fuel prices and rising interest rates continues to darken the financial mood of the nation.” UK inflation surged 9.4% in June from a year ago, accelerating at the fastest pace in four decades. Low confidence levels have historically been associated with economic recessions, with analysts predicting higher likelihood of an economic slowdown later this year. Most components of the indicator were unchanged, but Britons’ assessment for personal financial situation for the next 12 months ticked higher in what could be a reflection of optimism over imminent change in government. source: GfK Group

Consumer Confidence in the United Kingdom averaged -9.95 points from 1981 until 2022, reaching an all time high of 10 points in June of 1987 and a record low of -41 points in June 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 August of 2022.

Consumer Confidence in the United Kingdom is expected to be -35.00 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 5.00 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
2022-06-23 11:01 PM Jun -41 -40 -40 -42
2022-07-21 11:01 PM Jul -41 -41 -42 -44
2022-08-18 11:01 PM Aug -41 -38


Related Last Previous Unit Reference
Consumer Confidence -41.00 -41.00 points Jul 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
-41.00 -41.00 10.00 -41.00 1981 - 2022 points Monthly

News Stream
UK Consumer Confidence Stays at Record Low
The GfK Consumer Confidence indicator in the United Kingdom held steady at -41 in July 2022, remaining at a record low as runaway inflation and economic uncertainties continued to dampen sentiment. Joe Staton, client strategy director at GfK, said: “Consumer confidence remains severely depressed this month as the impact of soaring food and fuel prices and rising interest rates continues to darken the financial mood of the nation.” UK inflation surged 9.4% in June from a year ago, accelerating at the fastest pace in four decades. Low confidence levels have historically been associated with economic recessions, with analysts predicting higher likelihood of an economic slowdown later this year. Most components of the indicator were unchanged, but Britons’ assessment for personal financial situation for the next 12 months ticked higher in what could be a reflection of optimism over imminent change in government.
2022-07-21
UK Consumer Confidence Sets New Record Low
The GfK Consumer Confidence indicator in the United Kingdom fell to -41 in June 2022 from -40 in May, setting a new record low for the second consecutive month and adding to concerns of a pullback in consumer spending amid sluggish economic growth. "The consumer mood is currently darker than in the early stages of the Covid-19 pandemic, the result of the 2016 Brexit referendum, and even the shock of the 2008 global financial crisis, and now there's talk of a looming recession," GfK client strategy director Joe Staton said. Four of the five measures that form the confidence index decreased in June compared with the previous month, with the sharpest fall registered in consumers' short-term outlook about their personal finances. UK annual inflation reached a four-decade high of 9.1% in May amid rising food and energy prices, the highest among G7 economies. The country’s economy also contracted both in March and April, raising the likelihood of a recession this year.
2022-06-23
UK Consumer Confidence Falls to Record Low
The GfK Consumer Confidence indicator in the United Kingdom hit a new low of -40 in May 2022, surpassing the previous record low of -39 set in July 2008, amid growing concern over the cost of living crisis. Joe Staton, client strategy director at GfK, said: “This means consumer confidence is now weaker than in the darkest days of the global banking crisis, the impact of Brexit on the economy, or the Covid shutdown.” Consumer pessimism was most evident in people’s views on the general economy, with an index score of -63 for the past year and -56 for the coming year. UK inflation surged 9% in April, the highest level since 1982, driven by soaring energy bills, record petrol prices and rising food costs. Economists warned in April when the index dropped to -38 that such a low reading was consistent with Britain’s economy falling into recession, because it had closely tracked UK GDP over the past five decades.
2022-05-19