A measure of consumer confidence in the UK showed a marginal, although unexpected, increase in sentiment the month of December although Britons remained decidedly pessimistic regarding next year’s economic growth prospects.
Research company GfK’s closely-watched Consumer Confidence Index posted a reading of -7 in December, one point higher than the reading registered in November and also above economists’ expectations for reading of -8.
Two of the five measures used by GfK to make its overall consumer confidence reading saw increases in December with the remaining three measures decreasing. The measure for the general economic situation of the country during the last 12 months fell by one point to -26 and expectations for the general economic situation over the next 12 months fell by one point to -23.
Joe Staton, head of market dynamics at GfK, said: “While consumers remain relatively confident about their personal financial situation, confidence in the general economic situation for the UK has collapsed in the face of uncertainty about the future both at home and abroad.”