Qualified advisers answering your
Financial Questions
call 0800 092 1245

Consumer confidence takes another hit

Today saw the publication of the latest GfK consumer confidence index which shows that consumer confidence fell by a further two points to -18 in the month of May. This is the third month in a row that consumer confidence has fallen although it is well up on the -27 recorded at the same last year. So what does this mean?

Consumer confidence is a vital element of the UK economy and without an improvement consumers are unlikely to increase their spending which would place further pressure on the retail sector and the UK economy as a whole. There is concern that the UK government is on the verge of increasing taxes and reducing public sector spending which will impact upon a large number of UK workers. Aside from the fact that any tax changes would impact upon all workers, when you consider that some experts believe that 50% of the UK workforce is dependent in some way on the state there may be problems ahead.

However, as we have seen in the past, consumer confidence can and does often turn on a sixpence and can be very difficult to forecast. Quite where we will see the positive news coming in the short to medium term is difficult to see at this moment in time.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details