The GfK Consumer Confidence indicator in the United Kingdom fell to -41 in June 2022 from -40 in May, setting a new record low for the second consecutive month and adding to concerns of a pullback in consumer spending amid sluggish economic growth. "The consumer mood is currently darker than in the early stages of the Covid-19 pandemic, the result of the 2016 Brexit referendum, and even the shock of the 2008 global financial crisis, and now there's talk of a looming recession," GfK client strategy director Joe Staton said. Four of the five measures that form the confidence index decreased in June compared with the previous month, with the sharpest fall registered in consumers' short-term outlook about their personal finances. UK annual inflation reached a four-decade high of 9.1% in May amid rising food and energy prices, the highest among G7 economies. The country’s economy also contracted both in March and April, raising the likelihood of a recession this year. source: GfK Group
Consumer Confidence in the United Kingdom averaged -9.89 points from 1981 until 2022, reaching an all time high of 10 points in June of 1987 and a record low of -41 points in June of 2022. This page provides the latest reported value for - United Kingdom Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Consumer Confidence in the United Kingdom is expected to be -42.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Consumer Confidence is projected to trend around 5.00 points in 2023 and 1.00 points in 2024, according to our econometric models.