UK consumer confidence stalls in August amid growing pessimism over UK economy

Greater confidence in personal finances

UK consumer confidence has flatlined month-on-month, as concerns mount over the trajectory of the UK economy in the upcoming year.

In August, the overall score on GfK's Consumer Confidence index remained unchanged from July at -13. The survey done by GfK was conducted among a sample of 2,003 individuals aged above 16 in the UK. Overall, respondents expressed greater confidence in their personal finances for the next 12 months however, with the index going up from +3 in July to +6 on this measure in August. Joe Staton, client strategy director at GfK, noted this was "due to a mortgage friendly interest rate cut at the beginning of august, and hopes of more to come." UK consumer confidence strengthens in July...