Consumer confidence UK GfK Group in August dropped to -7, while analysts expected a decline to -8. Despite the decrease, the index in August was better value July, when the indicator dropped to -12. Consumer confidence remains weaker than it was before the vote on June 23, when the index was -1.
The consumer confidence index from the GfK Group is a leading indicator reflecting the level of consumer confidence in economic activity. Presented indicator is based on a survey of 2,000 people, conducted from 1-16 August.
The improvement in consumer confidence is affected by high employment and income growth in the UK, as well as the trust contributed to the good weather in recent months.