25th Jul 2025 02:59
(Alliance News) - UK consumer confidence edged lower in July amid concerns over the economic outlook, GfK reported Friday.
The GfK consumer confidence index fell to minus 19 in July, down from minus 18 in June, and slightly above the consensus forecast cited by FXStreet of minus 20.
The index stood at minus 13 in July 2024.
Neil Bellamy, consumer insights director at GfK, said: "The key measures on personal finances, the economy and purchase intentions are flat in July, and many will conclude that consumers are in a cautious wait-and-see mood. But the data suggests that some people may be sensing stormy conditions ahead.
"With speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come, the news is worrying."
GfK reported that expectations for the general economic situation over the next 12 months fell to minus 29 in July, down from minus 28 in June.
However, the forecast for personal finances over the next 12 months held steady at plus two over the same period.
The index readings are sourced from the GfK Consumer Confidence Barometer, published jointly by GfK and the Nuremberg Institute for Market Decisions. The CCB is based on survey responses from 2,004 individuals in the UK aged 16 and above.
By Elijah Dale, Alliance News senior reporter Asia-Pacific
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