UK consumer confidence falls back in January on economy worries - GfK
Reuters
Published Jan 22, 2021 01:45
Updated Jan 22, 2021 09:45
LONDON (Reuters) - A gauge of confidence among British consumers slipped back in January because of worries about the economy which has been largely locked down again, a survey showed on Friday.
The consumer confidence index from market research firm GfK fell to -28 from -26 in December, when it jumped by the most in eight years on the back of news about COVID-19 vaccines.
A Reuters poll of economists had pointed to a slightly bigger deterioration to -29.
Joe Staton, GfK's client strategy director, said a nine-point drop in a gauge of expectations for the economy over the coming year and weak intentions for making major purchases were suppressing the overall index.
Britain went its third national lockdown this month which has forced non-essential retailers to close.
However, the GfK survey showed people's views on their personal financial situation for the next 12 months held up.
The Bank of England is watching closely for signs of a recovery in confidence among consumers and companies as Britain's COVID-19 vaccination programme - one of the fastest in the world so far - is rolled out.
(This story corrects headline)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.