The GfK Consumer Confidence indicator in the United Kingdom hit a new low of -40 in May 2022, surpassing the previous record low of -39 set in July 2008, amid growing concern over the cost of living crisis. Joe Staton, client strategy director at GfK, said: “This means consumer confidence is now weaker than in the darkest days of the global banking crisis, the impact of Brexit on the economy, or the Covid shutdown.” Consumer pessimism was most evident in people’s views on the general economy, with an index score of -63 for the past year and -56 for the coming year. UK inflation surged 9% in April, the highest level since 1982, driven by soaring energy bills, record petrol prices and rising food costs. Economists warned in April when the index dropped to -38 that such a low reading was consistent with Britain’s economy falling into recession, because it had closely tracked UK GDP over the past five decades. source: GfK Group

Consumer Confidence in the United Kingdom averaged -9.82 points from 1981 until 2022, reaching an all time high of 10 points in June of 1987 and a record low of -40 points in May 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 May of 2022.

Consumer Confidence in the United Kingdom is expected to be -35.00 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.

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United Kingdom Consumer Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-04-22 02:10 AM Apr -38 -31 -33 -33
2022-05-19 11:01 PM May -40 -38 -39 -40
2022-06-23 11:01 PM Jun -35


Related Last Previous Unit Reference
Consumer Confidence -40.00 -38.00 points May 2022

United Kingdom Consumer Confidence
In the United Kingdom, the consumer confidence survey measures the level of optimism that consumers have about the performance of the economy in the next 12 months. The GfK Consumer Confidence is derived from the survey of about 2,000 consumers which are ask to rate the relative level of past and future economic conditions including personal financial situation, climate for major purchases, overall economic situation and savings level.
Actual Previous Highest Lowest Dates Unit Frequency
-40.00 -38.00 10.00 -40.00 1981 - 2022 points Monthly

News Stream
UK Consumer Confidence Falls to Record Low
The GfK Consumer Confidence indicator in the United Kingdom hit a new low of -40 in May 2022, surpassing the previous record low of -39 set in July 2008, amid growing concern over the cost of living crisis. Joe Staton, client strategy director at GfK, said: “This means consumer confidence is now weaker than in the darkest days of the global banking crisis, the impact of Brexit on the economy, or the Covid shutdown.” Consumer pessimism was most evident in people’s views on the general economy, with an index score of -63 for the past year and -56 for the coming year. UK inflation surged 9% in April, the highest level since 1982, driven by soaring energy bills, record petrol prices and rising food costs. Economists warned in April when the index dropped to -38 that such a low reading was consistent with Britain’s economy falling into recession, because it had closely tracked UK GDP over the past five decades.
2022-05-19
UK Consumer Morale Weakest Since 2008
The GfK Consumer Confidence indicator in the United Kingdom fell to its lowest level since July 2008 in April 2022, and well below market consensus of -33, amid higher interest rates and soaring inflation. The reading also marked the second-lowest reading since records began nearly 50 years ago, with the outlook for their personal finances (at -26) and the general economy (at -55) worse than the 2008 financial crisis. The UK’s annual inflation rate increased to 7% in March of 2022, the highest since March of 1992, due mainly to higher in both motor fuels and petrol prices. “There’s clear evidence that Brits are thinking twice about shopping. With little prospect of any economic relief on the horizon, we can only forecast further falls in the index.” said Joe Staton, client strategy director at GfK.
2022-04-22
UK Consumer Confidence Falls on Inflation Worries
The GfK Consumer Confidence indicator in the United Kingdom fell to its lowest level in 16 months at -31 in March 2022, amid mounting concerns about surging inflation, higher interest rates and the Ukraine conflict. This followed a reading of -26 in February and notched lower than expectations of -30. Readings of -30 and below have presaged recession on four out of five occasions since the survey started in 1974. All five components of the headline index fell in March, led by the expectations for personal finances, the economic view for the year ahead and the gauge for major purchases. “Consumers across the U.K. are experiencing the impact of soaring living costs with 30-year-high levels of inflation, record-high fuel and food prices, a recent interest-rate hike and the prospect of more increases to come, and higher taxation too,” GfK’s Client Strategy Director Joe Staton said.
2022-03-25