Consumer confidence fell in September

UK consumer confidence has fallen in September due to a “depressed back-to-school mood” leading consumers to feel less positive about the wider economy and their personal finances, according to GfK’s Consumer Confidence Index.

The index shows that all five measures used to calculate consumer confidence saw a decrease this month, with the overall index dropping four points to +3.

The biggest decrease in the index this month comes in how consumers think the general economic situation in this country has changed over the past 12-months, down six points to -3, one point higher than September 2014. While expectations for the general economic situation over the next 12-months is also down by five points to -2, six points lower than this time last year.

Joe Staton, head of market dynamics at GfK, said; “Consumers are in a depressed ‘back-to-school’ mood this month with a dip in people feeling good about the wider economy and their own personal economic circumstances.

“Across the board, all components of the index have dropped despite a positive UK news agenda of continued near-zero inflation, low interest rates and levels of unemployment, UK wage growth at a six-year high and the ever increasing value of our homes.”

Additionally, the major purchase index also decline, by three points to 14. This is 14 points higher than this time last year.