UK consumer confidence on hold in July could signal deeper concerns ahead
The holding pattern appears to reflect consumers 'are in a cautious wait-and-see mood', according to GfK's Consumer Insights director Neil Bellamy.
But wait. He also added that 'some people may be sensing stormy conditions ahead', based on speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come… 'the news is worrying,' he said.
And the importance here is that movement within its Savings Index was 'significant' this month 'because it does indeed suggest people are anxious'. It jumped seven points to +34 to reach the highest level since November 2007, revealing that those people who can put money aside 'are building contingency funds'.
The index measuring changes in personal finances during the last year remained unchanged at -7, one point better than July 2024 and the forecast for personal finances over the next 12 months is also unchanged at +2, one point worse than this time last year.
The measure for the general economic situation of the country during the last 12 months is down one point to -44, some 12 points worse than last July, and expectations for the general economic situation over the next 12 months dipped one point to -29, some18 points worse than July 2024.
The Major Purchase Index is also up one point at -15, one point higher than this month last year.
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Fashion Network
25-07-2025
- Fashion Network
UK consumer confidence on hold in July could signal deeper concerns ahead
On the surface, there appears nothing to get excited about here. July's consumer confidence dipped one point to -19 while figures from GfK's wider long-running Index showed two measures were down, one was up and two were unchanged in comparison to last month's announcement. The holding pattern appears to reflect consumers 'are in a cautious wait-and-see mood', according to GfK's Consumer Insights director Neil Bellamy. But wait. He also added that 'some people may be sensing stormy conditions ahead', based on speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come… 'the news is worrying,' he said. And the importance here is that movement within its Savings Index was 'significant' this month 'because it does indeed suggest people are anxious'. It jumped seven points to +34 to reach the highest level since November 2007, revealing that those people who can put money aside 'are building contingency funds'. The index measuring changes in personal finances during the last year remained unchanged at -7, one point better than July 2024 and the forecast for personal finances over the next 12 months is also unchanged at +2, one point worse than this time last year. The measure for the general economic situation of the country during the last 12 months is down one point to -44, some 12 points worse than last July, and expectations for the general economic situation over the next 12 months dipped one point to -29, some18 points worse than July 2024. The Major Purchase Index is also up one point at -15, one point higher than this month last year.
Fashion Network
25-07-2025
- Fashion Network
UK consumer confidence on hold in July could signal deeper concerns ahead
On the surface, there appears nothing to get excited about here. July's consumer confidence dipped one point to -19 while figures from GfK's wider long-running Index showed two measures were down, one was up and two were unchanged in comparison to last month's announcement. The holding pattern appears to reflect consumers 'are in a cautious wait-and-see mood', according to GfK's Consumer Insights director Neil Bellamy. But wait. He also added that 'some people may be sensing stormy conditions ahead', based on speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come… 'the news is worrying,' he said. And the importance here is that movement within its Savings Index was 'significant' this month 'because it does indeed suggest people are anxious'. It jumped seven points to +34 to reach the highest level since November 2007, revealing that those people who can put money aside 'are building contingency funds'. The index measuring changes in personal finances during the last year remained unchanged at -7, one point better than July 2024 and the forecast for personal finances over the next 12 months is also unchanged at +2, one point worse than this time last year. The measure for the general economic situation of the country during the last 12 months is down one point to -44, some 12 points worse than last July, and expectations for the general economic situation over the next 12 months dipped one point to -29, some18 points worse than July 2024. The Major Purchase Index is also up one point at -15, one point higher than this month last year.
Fashion Network
25-07-2025
- Fashion Network
UK consumer confidence on hold in July could signal deeper concerns ahead
And the importance here is that movement within its Savings Index was 'significant' this month 'because it does indeed suggest people are anxious'. It jumped seven points to +34 to reach the highest level since November 2007, revealing that those people who can put money aside 'are building contingency funds'. The index measuring changes in personal finances during the last year remained unchanged at -7, one point better than July 2024 and the forecast for personal finances over the next 12 months is also unchanged at +2, one point worse than this time last year. The measure for the general economic situation of the country during the last 12 months is down one point to -44, some 12 points worse than last July, and expectations for the general economic situation over the next 12 months dipped one point to -29, some18 points worse than July 2024. The Major Purchase Index is also up one point at -15, one point higher than this month last year.
