UK consumer confidence data compiled by market research firm GfK for the European Commission
Comes in at -9 for April (clocks up 28 consecutive months in negative territory)
- expected -7, prior -7
The March result (-7) was a 10 month high, April falling a bit from there
GBP off a few tics, not much at all (it is rarely too much of an immediate forex mover this one)
Why the sad result? GfK cite:
- Households more worried about their finances (Personal finances +4 in April vs +10 in March)(Climate for major purchases +3 in April vs +2 in March)
- Gloomy outlook for the economy (Economic -24 in April vs -22 in March)
Those numbers in brackets are 12-mth ahead outlooks from consooooomers)
More:
- "Hope springs eternal for better numbers but the continued uncertain economic forecast means that the sun is not yet shining brightly for UK consumers," Joe Staton, client strategy director at GfK, said in a statement. "As consumers, we need to see clear evidence with our own eyes - in our bank balances and pay packets - that balmier economic climes have returned. Yet our view of the UK's general economic situation remains low."
