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Financial News: UK Consumer Confidence Falls As Estimated In April

UK Consumer Confidence Falls As Estimated In April

04/24/2020 - 01:11:00 (RTTNews)

(RTTNews) - UK consumer confidence declined sharply amid lockdown in April, as initially estimated, final data from GfK showed Friday.

The consumer confidence index fell to -34 from -9 in March. The score matched the flash estimate published on April 6.

"It is too early to say whether this has now stabilised after weeks of adjustment to the reality of lockdown life, or whether further falls are to come," Joe Staton, client strategy director at GfK said.

"Overall, there is no guarantee yet that the fall in consumer confidence has ended, and we are only five points away from the record -39 low seen in July 2008," Staton added.

The index measuring changes in past personal finances was unchanged from flash estimate, at -4. Meanwhile, the forecast for personal finances over the next 12 months was slightly higher at -14 compared to the initial estimate of -17.

The measure for the general economic situation over the last year dropped four points from flash to -44. At the same time, expectations for the general economic situation over the next 12 months held steady at -56 points.

The major purchase index stayed at -52 in April, as estimated. The savings index increased one point from the flash estimate to five in April.

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