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UK consumer confidence falls in July for first time in six months UK consumer confidence falls in July for first time in six months
(about 5 hours later)
British consumer confidence fell for the first time in six months in July, a survey from researchers GfK NOP showed on Thursday, the latest sign that Britons are feeling less upbeat about the economic recovery.British consumer confidence fell for the first time in six months in July, a survey from researchers GfK NOP showed on Thursday, the latest sign that Britons are feeling less upbeat about the economic recovery.
GfK NOP's headline consumer confidence index fell to -2 in July from 1 in June, which had been the first positive reading in the survey in nearly 10 years.GfK NOP's headline consumer confidence index fell to -2 in July from 1 in June, which had been the first positive reading in the survey in nearly 10 years.
The fall contrasted with the average forecast in a Reuters poll for a rise to 2 in the main index, which had been steadily improving from readings well below zero.The fall contrasted with the average forecast in a Reuters poll for a rise to 2 in the main index, which had been steadily improving from readings well below zero.
"The almost relentless rise of the last six months couldn't continue indefinitely, and the government will be hoping this is just a temporary setback rather than the forerunner of a wider decline in confidence," said Nick Moon, managing director of GfK NOP Social Research, in a statement."The almost relentless rise of the last six months couldn't continue indefinitely, and the government will be hoping this is just a temporary setback rather than the forerunner of a wider decline in confidence," said Nick Moon, managing director of GfK NOP Social Research, in a statement.
Britain holds a national election in May 2015 and the opposition Labour party is telling voters that the country is in the grip of a cost-of-living crisis that only it can fix. All five components of the index fell, with a sharp four-point drop for questions about the general economic situation over the past 12 months and over the next 12.
All five components of the index fell, with a sharp 4-point drop for questions about the general economic situation over the past 12 months and over the next 12.
Another consumer confidence index, compiled by Lloyds and released last week, fell for the first time this year in June and other surveys have shown that pessimism about household finances is growing.Another consumer confidence index, compiled by Lloyds and released last week, fell for the first time this year in June and other surveys have shown that pessimism about household finances is growing.
The survey released on Thursday was conducted between 1 and 15 July, and was carried out by GfK NOP on behalf of the European commission.The survey released on Thursday was conducted between 1 and 15 July, and was carried out by GfK NOP on behalf of the European commission.