UK Consumer Pessimism Grows Over Economy

08 September 2003

British consumer sentiment has fallen for the first time since March, according to the latest survey from Martin Hamblin Gfk.

Compiled on behalf of the European Commission, the index of consumer confidence tumbled two points to –3 in August. This comes despite improvement in the FTSE 100.

There were declines in nearly all the index’s component measures, including consumers’ views on conditions for saving and making major purchases, on their past and future personal finances, and on the economic situation over the last year and in the coming twelve months.

Some 53% voiced the opinion that the general economy has deteriorated in the past year, and the index of expectations for future economic performance slumped for the third straight month to –15.

Data sourced from: Daily Research News Online; additional content by WARC staff