© Reuters. Outbreak of the coronavirus disease (COVID-19) in London
LONDON (Reuters) – A gauge of confidence among British consumers slipped back in January because of worries about the economy which has been largely locked down again, a survey showed on Friday.
The consumer confidence index from market research firm GfK fell to -28 from -26 in December, when it jumped by the most in eight years on the back of news about COVID-19 vaccines.
A Reuters poll of economists had pointed to a slightly bigger deterioration to -29.
Joe Staton, GfK’s client strategy director, said a nine-point drop in a gauge of expectations for the economy over the coming year and weak intentions for making major purchases were suppressing the overall index.
Britain went its third national lockdown this month which has forced non-essential retailers to close.
However, the GfK survey showed people’s views on their personal financial situation for the next 12 months held up.
The Bank of England is watching closely for signs of a recovery in confidence among consumers and companies as Britain’s COVID-19 vaccination programme – one of the fastest in the world so far – is rolled out.
(This story corrects headline)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.