Good morning, it’s Paul here.
Consumer confidence
Since consumer spending makes up a large part of the UK economy, 66% of GDP on average, according to Google, then it makes sense for investors to track consumer confidence stats.
I follow the monthly press releases from GfK here (worth bookmarking). I’ve mentioned before recently, that the decisive general election result should be very positive for consumer confidence. My view for a while has been that political uncertainty, and the nightmare scenario of a Corbyn Govt destroying the economy, was a far bigger worry than Brexit.
This link is also worth a look, for longer term consumer confidence charts, which helps put recent data into perspective.
Hence I’ve been eagerly awaiting the latest consumer confidence stats for Dec 2019. The usual table is as follows;
As you can see above, consumer confidence improved by 3 points in Dec 2019, but is still negative at -11 – it’s a simple index, where a score below zero is negative, anything above zero is positive.
As we’ve seen for a long time now, there is a huge gulf between people’s expectations for their own personal finances (which…
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