Confidence among UK consumers dropped again in October

Confidence among UK consumers dropped again in October

UK consumer confidence dropped further into negative territory in October, and the likelyhood of it rising any time soon is "running out fast".

GfK's Consumer Confidence Index fell one point this month to -2. Three of the five measures used to calculate the Index Score saw declines, while the remaining two increased.

"This is now the seventh month in a row that the Index has stood within two points either way of -1, and the almost constant improvement that saw the Index rise 28 points between April 2013 and June 2014 seems to have run completely out of steam," said Nick Moon, managing director of social research at GfK.

"This is not, of course, to say that it will not start to rise again soon, but the opportunities for it to do so before we get seriously into the general election campaign are fast running out."

Moon added that it is likely that people will have to start feeling personally better off if the Index is to get solidly into positive territory.