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UK consumer sentiment weakens in October, says GfK

UK economy
Britain   The consumer sentiment index fell

UK consumer confidence weakened in October on concerns about wider economic prospects but willingness to buy improved for the third straight month, survey data from GfK showed.


The consumer sentiment index fell by one point to -10 in October.

"As concerns about the wider economic prospects for the UK economy dampen our outlook, consumers are showing no real 'get-up-and-go'," Joe Staton, head of Market Dynamics at GfK, said.

Both measures for the general economic situation decreased in October, while the measure for personal financial situation over the last 12 months and the major purchase index increased, survey showed.

The index measuring changes in personal finances during the last 12 months increased one point to zero. The forecast for personal finances over the next 12 months stayed at positive 4.

Meanwhile, the measure for the general economic situation of the country during the last 12 months dropped one point to negative 29. Expectations for the general economic situation over the next 12 months decreased 2 points to negative 26 in October.

The major purchase index gained two points to positive 3 in October. At the same time, the savings index held steady at positive 3.

 

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