December sees UK’s Consumer Confidence drop two points

Nick Moon, Managing Director of GfK NOP Social Research, comments: "The two point drop in the index this month means consumer confidence is now at its lowest ebb in almost three years. In fact, in the 37 years the index has been running it has only been lower on two occasions – a single month in 1990, and eight months during the 2008-2009 recession.

The overall index score this month has decreased two points to -33, twelve points lower than this time last year. Three of the measures saw decreases this month, with two measures staying at the same level as November 2011. The annual moving average stays the same at -28.

The index measuring changes in personal finances during the last twelve months has stayed the same this month at -23; this is seven points lower than this time last year.

The forecast for personal finances over the next twelve months has stayed the same this month at -10; this is two points lower than December ’10.

The measure for the general economic situation of the country during the last twelve months has decreased one point this month to -62; eleven points lower than this time last year.

An expectation for the general economic situation over the next twelve months has decreased by eight points to -41, eighteen points lower than December ‘10.

The major purchases measure has decreased four points this month to -31; which is twenty four points lower than this time last year.