UK Consumer Confidence Hits Lowest Point Since 2013

  • Consumer Confidence Index decreased two points in October to -14
  • General economic situation measure for last 12 months dropped by one point to -33
  • Expectations for general economic situation over next 12 months fell two points to -37
  • Major purchase index declined two points in October to +1
  • Joe Staton cites Brexit uncertainty and potential general election as factors impacting consumer confidence

The GfK Consumer Confidence Index has dropped two points in October, reaching -14. The measure for the general economic situation over the past 12 months fell by one point to -33, five points lower than in October 2018. Expectations for the economy in the coming year also decreased by two points to -37. Joe Staton, client strategy director at GfK, attributes this decline to ongoing political turmoil and potential general election implications. He warns that reduced consumer spending could pose a risk to the wider economy.

Factuality Level: 8
Factuality Justification: The article provides accurate information from GfK’s Consumer Confidence Index and quotes an expert’s opinion on the potential impact of Brexit uncertainty on consumer spending.
Noise Level: 3
Noise Justification: The article provides relevant information about the decrease in consumer confidence index and its impact on the economy, with quotes from an expert to support the analysis. It stays on topic and does not dive into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: Consumer Confidence Index, personal finances, economic growth, consumer spending
Financial Rating Justification: The article discusses GfK’s Consumer Confidence Index, which measures the public’s perception of their personal financial situation and its impact on consumer spending. This directly relates to financial topics such as personal finance, economic growth, and consumer behavior in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk