Consumer confidence drops for second month in a row

The index found that overall consumer confidence was at 102.4, with a score greater than 100 on the index indicating positive sentiment, and below 100 displaying negative sentiment.
The fall in the index was driven by household finance metrics, with household finances over the past month plummeting nine points to a score of 76, and expectations for household finances for the year ahead also fell 8.6 points to 77.
Homeowners rated house prices over the previous month at 110 points, down 3.3 points from March, while for the year ahead, house value was rated at 128.6, a 1.3-point drop.
Business activity in people’s workplace was rated at 107, down 1.5 points, while there was also a 4.1-point fall for business activity over the next 12 months to a score of 113.7.
However, job security over the past 30 days was up 0.9 points, albeit still in negative territory with a score of 91. Job security was down 0.5 points for the next year, with a score of 115.6.
The data is based on consumer confidence collected by YouGov, featuring 6,000 interviews a month.
The latest YouGov and Cebr findings chime with similar falls in consumer confidence noted in other consumer confidence indexes, with results credited to ongoing concerns over the economic impacts of the war in Iran.
Sam Miley, head of forecasting and thought leadership at Cebr, said: “April marked another month of declining consumer confidence in the UK, as the effects of ongoing conflict in the Middle East continue to filter through to the wider economy.
“The only metric to see positive movement across the index was the outlook for workers’ job security over the next 12 months, which is more likely a reflection of the increased protections introduced in the Employment Rights Bill this month than it is a sign of improved hiring sentiment.”
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