The GfK consumer confidence index in the UK decreased by one point to -14 in December 2018, matching market expectations, amid sticky concerns over Brexit negotiations. It was the lowest print since July 2013, as expectations for the economy over the next 12 months tumbled to its lowest since December 2011 (-38 vs -32 in November). In addition, the gauge measuring personal finances over the next 12 month dropped to -1 in December from 3 in the previous month. Still, consumers felt better about their personal finances over the past year (-1 vs -3) and were more willing to make major purchases (2 vs -3). "In the face of ever-rising costs, and the threat of higher inflation combined with uncertainty around the outcome of the Brexit negotiations, it's no surprise that consumers are in a chilly mood of despondency," GfK executive Joe Staton said. Consumer Confidence in the United Kingdom averaged -8.99 Index Points from 1981 until 2018, reaching an all time high of 10 Index Points in June of 1987 and a record low of -39 Index Points in July of 2008.
Consumer Confidence in the United Kingdom is expected to be -20.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in the United Kingdom to stand at -12.00 in 12 months time. In the long-term, the United Kingdom Consumer Confidence is projected to trend around -2.00 Index Points in 2020, according to our econometric models.