The monthly UK Consumer Confidence Barometer (CCB) undertaken by GfK on behalf of the European Commission* is 2 points up in August at-10. As in 2016 the July measure reflected an election result; the August measure in 2016 was up 5 points on July 2016 ( also-12) at -7.
Confidence is up in 4 of the 6 regions on July. Biggest gain is in Scotland (6 points better at -16); elsewhere sentiment is up 4 points in the South at -5, in the North 3 points up at -15, and in the Midlands, up 2 points to -9. In Wales confidence is unchanged at -18, but collapsed by 28 points in Northern Ireland to -32 where the border issue of what Brexit means is creating great uncertainty.
Of the 5 measures comprising the headline measure:
· The financial situation of households over the past 12 months is 4 points higher at +2 compared to July, and 2 points up on a year ago
· The expected financial situation of households over the next 12 months is 3 points better on the month at +5 and 1 point above a year ago (+4)
· The general economic situation measure over the past 12 months edged up 1 point to -30 compared to July, but is 7 points down on August 2016 (-23)
· The general economic situation measure in the coming 12 months also edged 1 point higher on the month to -27, but is 5 points down 12 months ago (-22)
· The measure of consumer sentiment to making major purchases in the current economic situation is 1 point up on the month at zero but 7 points below August 2016 (+7)
You can see the full briefing document by downloading the PDF.