Consumer confidence in the UK remained caught at a six-year low over uncertainty surrounding the upcoming common elections after which Brexit. The
Consumer confidence in the UK remained caught at a six-year low over uncertainty surrounding the upcoming common elections after which Brexit. The GfK client confidence index got here in keeping with economists’ expectations and the previous month’s reading at -14.
In line with GfK, shoppers seem hesitant to make main purchases and stay in a wait and watch state till a clearer image on the elections and Brexit emerge. The reluctance amongst shoppers to spend extra is aligned with that of companies who’re holding again making vital investments on account of the reigning uncertainties in Britain.
The final time the buyer confidence studying got here optimistic was again in January 2016. In November, British shoppers’ indicated that they had been barely much less optimistic about their private funds, financial savings and about making main purchases within the subsequent 12 months. On a barely optimistic be aware, shoppers anticipate an enchancment within the common financial scenario over the approaching 12 months.