No overall change in consumer confidence in September

UK – Consumer confidence has stagnated in the UK, with a consumer confidence index run by YouGov and Centre for Economics and Business Research (Cebr) registering no overall change in its September instalment.

Consumer confidence spending pound_crop

While the main index stayed at 107.7, household finance measures were down, with the figure for the past 30 days falling 0.5 points to 87.6 from August, while the outlook for the next year was down 3.3 points to 89.1 points.

The index is based on around 6,000 interviews carried out each month, with a score of more than 100 deemed positive, while scores of less than 100 are in negative territory.

Apart from household finance measures, the other figures in the index were mostly positive, with a rise in homeowners’ perceptions of house prices in the last month from 114 to 117.1, and outlook jumping 0.9 points to 131.7.

Job security over the past 30 days also increased by a point from 92.3 to 93.3, with outlook for the next 12 months hitting 116.3, up from 115.7.

Business activity measures were a more mixed picture, with a 0.5-point rise to 108.1 for perceptions of business activity over the past month, while for the year ahead, the figures dropped from 120.5 to 118.7.

Sam Miley, head of forecasting and thought leadership at Cebr, said: “Amid elevated inflation and slowing earnings growth, perceptions of household finances are showing significant weakness. Gains in other categories were insufficient to offset this mounting pessimism, resulting in a second consecutive month of stagnation in the YouGov/Cebr Consumer Confidence Index.

“Looking ahead, this period of calm may prove short-lived. With the autumn Budget approaching, speculation around potential fiscal measures is likely to inject fresh volatility into household sentiment.” 

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