UK GfK Consumer Sentiment Weakens In September

UK GfK Consumer Sentiment Weakens In September

UK consumer confidence weakened in September amid heightened uncertainty surrounding Brexit, survey data from GfK showed Friday.

The consumer sentiment index dropped to -9 in September from -7 in August. The expected score was -8.

Four sub-components of the index deteriorated in September and one stayed unchanged.

The index measuring changes in past personal finances decreased three points to +1. Likewise, the forecast for personal finances over the coming 12 months dropped to +5 from +8 a month ago.

The measure for the general economic situation during the last 12 months fell two points to -28, this was at the same level as September 2017, GfK said.

Expectations for the general economic situation over the next 12 months edged down one point to -27. Meanwhile, the major purchase index stayed the same this month at +6.

«The danger is that consumers might capitulate on how they feel about their personal finances,»Joe Staton, client strategy director at GfK, said. «If that happens, we'll see very sharp drops indeed in the Overall Index Score in the months up to March 2019.»

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