GfK Index Shows Decline in Consumer Sentiment

  • UK consumer confidence decreased by three points in June
  • Consumer Confidence Index is now -13
  • General economic situation measure for last 12 months fell to -32
  • Expectations for next 12 months dropped to -33
  • Major purchase index decreased to -2
  • Joe Staton: ‘new normal’ for consumer confidence?
  • Concerns over personal finance and major purchases indicate turbulent times ahead

The GfK Consumer Confidence Index has revealed a decrease in consumer confidence in the UK, with the overall score dropping three points to -13. The measure for the general economic situation over the past 12 months fell four points to -32, while expectations for the next 12 months dropped by four points as well, reaching -33. The major purchase index also declined, going from -2 in June 2018 to its current state of -5. Joe Staton, GfK’s client strategy director, suggests that these scores around -13 may become the ‘new normal’. He adds that while people are worried about the broader economy, personal finance and major purchase index declines indicate potential economic turbulence in the coming months.

Factuality Level: 10
Factuality Justification: The article provides accurate information from a reputable source (GfK), presents relevant data on consumer confidence and economic measures, and includes an expert opinion without any sensationalism or personal bias.
Noise Level: 3
Noise Justification: The article provides relevant information about the decrease in consumer confidence in the UK based on GfK’s Consumer Confidence Index and includes insights from an expert. However, it could benefit from more analysis or context to explain why this decline is happening and its potential impact on the economy.
Financial Relevance: Yes
Financial Markets Impacted: UK consumer confidence and major purchases
Financial Rating Justification: The article discusses changes in the UK’s Consumer Confidence Index, which measures consumer sentiment towards personal finance and economic situations, potentially impacting spending habits and the overall economy.
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.

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