A “giant cloud of resignation” hangs over consumers as they await the outcome of Brexit, impact consumer confidence which remained negative, although stable, in February, at -13.
That means confidence was actually up by one point this month, compared to January, although it is still three points lower than February 2018, according to GfK’s consumer confidence index. Of the five metrics measured, three increased and two stayed the same in February as consumers continue to take a wait-and-see approach to the outcome of Brexit.
The measure for the general economic situation of the country during the last 12 months increased two points compared to January but is still stuck well in negative territory at -33. That is four points down compared to February 2018.
Expectations for the general economic situation over the next 12 months have also increased one point to -38, although this is still 12 points lower than February 2018.
Joe Staton, client strategy director at GfK, says the continuing depressed sentiment towards the general economic situation illustrates “the calm before the storm of post-Brexit headwinds and potential negative economic outcomes”. He questions whether…