Consumer Confidence at Lowest in 15 Months in Light of Impending EU Vote
UK consumer confidence is at its lowest level in 15 months, according to a report by GfK out today. GfK’s survey of 2,000 people found that its consumer confidence index dropped to -3, compared to 0 in March, making it the weakest reading since December 2014. The market research group has suggested that the upcoming EU referendum and the financial instability of the Eurozone has created a sense of ‘uncertainty’ among consumers. Despite this, economists are divided over how much of the recent slowdown in UK growth is actually down to fears of a potential Brexit. Official figures this week showed GDP growth dropped to 0.4% in the first quarter of 2016 from 0.6% in the final three months of 2015 but the Office of National Statistics (ONS) said this was not linked to the impending refere... »
