With the May GfK NOP consumer confidence barometer
straddling the general election and with uncertainty about future tax and
spending policies a feature of the campaign, consumer confidence slipped in
May, down 2 points to –18. This is the weakest level in 2010, and down 9 points
on a year ago.
The main weakness in confidence is in the future measures of
personal finances and the general economic situation. The wave of optimism that
swept through the country from late summer appears to have broken.
Spending measures continue to be weak, with both savings
measures of the climate and of the likelihood of saving showing slight
With inflation expectations at a 21-month high and job
worries growing in May, the new coalition government face a tough challenge in
boosting the mood of consumers which may turn more pessimistic as next month’s
emergency Budget is unveiled.
The May UK Consumer Confidence Monitor will be published on
June 16th. To find out how you can also have an informed view of the
consumer mood contact email@example.com or
ring 07740027968 / 02089447510