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The consumer confidence index in the UK in September fell to the lowest in 6 months


September, 20 2024
watermark Economic news

The UK consumer confidence index in September 2024 fell to the lowest value in the last six months, amounting to -20 points, which is significantly lower than in July and June, when it was at the level of -13 points. 


For comparison, in September 2023, the index was at -27 points (previously reported at -21 points). All five components of the indicator showed a decrease compared to July.


The subindex, reflecting consumers' assessment of their financial situation over the past year, fell to -9 points (in August it was -7), which is better than a year earlier, when it was -18 points. Personal finance expectations for the next 12 months also worsened, falling to -3 points from +6 in the previous month. A year earlier, this indicator was at the level of -6 points.


Consumers' assessment of the overall economic situation over the past year has dropped to -37 points compared to -35 a month earlier. The forecast for the next 12 months deteriorated even more: to -27 points from -15 in August.


The willingness of the British to spend money on large purchases also decreased, the subindex fell to -23 points from -13 points in August. In September last year, this indicator was at the level of -28 points.


The average index of consumer confidence for the period from 1981 to 2024 is -10.9 points. The record value of 10 points was recorded in June 1987, while at least (-49 points) was recorded in September 2022.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.