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GfK Consumer Confidence in the U.K. Bumps Higher Than Expected |
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European Economy |
Written by CEP News |
Aug 29 08 00:07 GMT |
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(CEP News) - Late Thursday evening, the GfK Group published its UK consumer sentiment data for August and reported that the consumer confidence indicator stood at -36 for the month. Economists had expected a decline to -41 after the indicator had slipped to -39 in July, the lowest level ever recorded.
Four of the sub-components of the sentiment indicator saw decreases in August. The most notable decrease occurred in the number of people who reduced the number of journeys they made by car, which was down by 4%. The number of people who went out less to pubs or restaurants decreased by 3%. The UK consumer confidence survey results were compiled from the responses of approximately 2,000 individuals over the age of 16. The survey was conducted on behalf of the European Commission. By Megan Ainscow,
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