Britain’s consumer confidence falls alongside economic outlook
October 31, 2014 6:17 am
Consumer confidence for the UK declined this month as British outlook on the economic fell behind troubles in the eurozone.
Research group GfK NOP Ltd. says that its household sentiment index dropped to minus 2 in October from the minus 1 in September, while a separate gauge for expectations of consumers regarding the economy over the next year fell by two points to its lowest since February at 2.
The growth of Britain’s economy slowed down during the third quarter with the eurozone unable to get out of its slump in the past several months. British prime minister David Cameron is hoping for an economic recovery in order to boost the mood of consumers despite the slow growth in wages as a build up to next year’s general elections.
GfK’s social research managing director, Nick Moon, said that the last seven months have seemingly run out of steam with its gauge alternating by two points on each side of minus 1. He added that while it may still end up increasing, the opportunities to do so before the elections come in May are quickly running out.
Another gauge of outlook regarding personal finances for the next 12 months advanced by three points to end up at 4 in October.
The material has been provided by InstaForex Company – www.instaforex.com
Consumer confidence for the UK declined this month as British outlook on the economic fell behind troubles in the eurozone.
Research group GfK NOP Ltd. says that its household sentiment index dropped to minus 2 in October from the minus 1 in September, while a separate gauge for expectations of consumers regarding the economy over the next year fell by two points to its lowest since February at 2.
The growth of Britain’s economy slowed down during the third quarter with the eurozone unable to get out of its slump in the past several months. British prime minister David Cameron is hoping for an economic recovery in order to boost the mood of consumers despite the slow growth in wages as a build up to next year’s general elections.
GfK’s social research managing director, Nick Moon, said that the last seven months have seemingly run out of steam with its gauge alternating by two points on each side of minus 1. He added that while it may still end up increasing, the opportunities to do so before the elections come in May are quickly running out.
Another gauge of outlook regarding personal finances for the next 12 months advanced by three points to end up at 4 in October.
The material has been provided by InstaForex Company – www.instaforex.com
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