Consumer confidence dips ahead of autumn Budget
Consumer confidence has edged down in the UK this month as people nervously await the announcement of the autumn Budget.
GfK’s Consumer Confidence Index has dropped by one point to -21 in October and shows that people are most worried about the outlook for the economy.
The index for the forecast for personal finances over the next 12 months is up one point at -2 while GfK’s major purchase index has climbed by two points to -21.
However, the index for expectations for the general economic situation over the next 12 months has fallen by one point at -28.
Neil Bellamy, consumer insights director, GfK, said: “Consumer confidence fell one point this month to -21, taking the score back down to the level last seen in March this year.
“As the Budget statement looms, consumers are in a despondent mood despite a fall in the headline rate of inflation.
“This month’s Consumer Confidence Barometer paints a picture of people holding their breath to see what’s in store for them on 30th October.”
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