Investing.com – British consumer confidence decreased unexpectedly in November, industry data showed on Tuesday.
In a report, the market research group Gfk said its index of British consumer confidence fell to -21.0 in November, after rising to -19.0 in October.
Analysts had expected the index to remain unchanged at -19.0 in November.
On the index, a level above 0.0 indicates optimism, below indicates pessimism.
Commenting on the report, Gfk economist Nick Moon said, “This month's fall in consumer confidence – which remains deep in the negative – is clearly not good news.”
While adding that, “What is more worrying in this month's figures is that the worst-performing elements of the index are those that look to the future, with a five point fall in confidence for people’s personal financial situation over the next 12 months.”
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD falling 0.07% to hit 1.5559.
In a report, the market research group Gfk said its index of British consumer confidence fell to -21.0 in November, after rising to -19.0 in October.
Analysts had expected the index to remain unchanged at -19.0 in November.
On the index, a level above 0.0 indicates optimism, below indicates pessimism.
Commenting on the report, Gfk economist Nick Moon said, “This month's fall in consumer confidence – which remains deep in the negative – is clearly not good news.”
While adding that, “What is more worrying in this month's figures is that the worst-performing elements of the index are those that look to the future, with a five point fall in confidence for people’s personal financial situation over the next 12 months.”
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD falling 0.07% to hit 1.5559.