UK consumer confidence lowest since 2008

April has seen a decrease in consumer confidence, according to the GfK NOP, meaning big purchases and spending on fashion have been affected. With a decrease in spending and confidence, UK retailers look overseas to combat domestic

high street blues.

The fall in confidence corresponds to five measures; public perception of the country’s general economic situation over the last 12 months and over the next 12 months, confidence in their own personal financial situation over the last 12 months and over the next 12 months, and the major purchases index.

Nick Moon, MD of GfK NOP Social Research, comments: "Coming after six months of stagnant economic growth, this is a significant drop, one that is bad news for the government and bad news for the economy. It suggests that the attempts to spur growth in last month’s Budget have failed to convince the public, and this may well be sorely felt on the already beleaguered high street.

The UK Consumer Confidence Survey from GfK NOP was conducted amongst a sample of 2015 individuals aged 16+ on behalf of the European Commission. Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population and interviewing was carried out during 1 – 10 April 2011.

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