NEWS20 July 2017

UK consumer expectations continue to fall

Brexit Europe Finance News Trends UK

EUROPE – While the consumer climate has remained at a high level for the EU 28, economic expectations of British consumers is still falling, according to the GfK consumer climate study.

UK money

The consumer climate measure for Europe closed at 19.1 points at the end of June. But the results are quite mixed for Europe overall in the second quarter of 2017.

In the UK, economic expectation of British consumers has continued to fall. Compared to levels a year ago, the indicator has fallen by 14.8 points to reach -20.7 points. 

Income expectation recorded an even greater drop in the UK, falling by 21.2 points compared with June 2016, to reach -2 points. This represents a loss of 3.2 points from the first quarter of the year. 

The indicator for propensity to buy has dropped to 3.5 points, which is its lowest level since October 2014. 

"The British consumers were evidently watching the Brexit talks with scepticism, which was reflected in weakness of the indicators," said Rolf Bürkl, GfK consumer expert.

Full European findings can be accessed here