UK consumer confidence plummets to record low in September

Down five points to -49

Elliot Gulliver-Needham
clock • 1 min read

UK consumer confidence has fallen to the lowest since records began in 1974, defying expectations of an improvement.

The consumer confidence index dropped five points to -49 this month, according to research group GfK. Economists polled by Reuters had predicted a small rise to -42 this month, after the announcement of the £150bn energy package announced by the government. The index, which makes interviews in the first two weeks of each month, saw record low scores in four of five of the questions asked. The largest falls were in personal finances over the next year, which was down 9 points, and confidence in the economy over the next year, which was down eight points. The major purchase index,...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Markets

Market Movers: UK economy grows by 0.2% in August after two months of stagnation

Market Movers: UK economy grows by 0.2% in August after two months of stagnation

After no growth in June and July

Professional Adviser
clock 14 October 2024 • 1 min read
Bank of England holds rates at 5.25% in final pre-election decision

Bank of England holds rates at 5.25% in final pre-election decision

'The MPC would not want to be perceived as politicking'

Cristian Angeloni
clock 20 June 2024 • 1 min read
Inflation officially back to Bank of England's target level of 2%

Inflation officially back to Bank of England's target level of 2%

Data shows a 2% year-on-year fall ‘in line with consensus expectations’

Hope Coumbe
clock 19 June 2024 • 2 min read