UK: Consumer confidence slumps in December
UK consumer confidence has slumped during the run-up to Christmas, according to the latest figures from research company GfK.
The GfK Consumer Confidence Index Score declined seven points to -29 in December from -22 last month. Four of the five measures, which cover personal finances over the past year, the general economic situation, the climate for major purchases, and savings, fell this month. The forecast for personal finances over the next 12 months remained the same.
GfK managing director of social research Nick Moon said: "While such a dramatic drop in consumer confidence over the last month might seem like very bad news, it must be seen in the context of a massive eight point rise in November - the seventh highest increase since the Index began in 1974. On its own, this increase suggested a real turning point in consumer confidence as we looked ahead to 2013.
"But just as with significant improvements like this in the past - in May 2011 for example - the surge disappeared as fast as it arrived. Despite last month's rise, the Index is now only one point higher than it was in October 2012, indicating that consumer sentiment is still fragile despite the fact Christmas is less than a week away."
The UK Consumer Confidence survey was conducted on a sample of 2,002 individuals aged 16 and above.
- Impact of the TPP on the US textile industry?
- JC Penney emphasises new merchandising strategy
- Crystal Group nurtures its caring culture
- Cambodia's future outsourcing prospects uncertain
- Hazardous chemical removal a key industry issue
- Vietnam proposes 15% rise to regional minimum wage
- Cambodia garment workers “dying on the job”
- Avery Dennison forms JV with Ningbo Shenzhou
- Nike appointments to drive growth opportunities
- Critical findings identified at Bangladesh complex
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Textile Wholesaling in the UK - Industry Market Research Report
- Global market review of denim and jeanswear – forecasts to 2020
- Survey of the European Fabric Fairs: Spring/Summer 2015
- Prospects for the Textile and Clothing Industry in Turkey