2017.11.2923:59:00UTC+00UK GfK Consumer Sentiment Weakens In November

Squeezed income, higher inflation and economic uncertainty dampened British consumer sentiment in November, survey data from GfK showed Thursday.

The consumer sentiment index fell to -12 in November from -10 in October. The score was forecast to drop marginally to -11. A similar lower reading was last seen in July.

"Sadly, there's no festive cheer in this month's Consumer Confidence Index," Joe Staton, head of market dynamics at GfK, said. "This is the second time this year that consumer confidence has matched the worrying -12 score seen in July 2016 after the Brexit vote."

All five components used to calculate the score declined in November. The index for past personal financial situation slid one point to -1. The index measuring future personal finances dropped to 2 points.

The measure for the general economic situation over the last 12 months decreased three points to -32. Likewise, expectations for the general economic situation over the next 12 months fell two points to -28 in November.

The major purchase index fell 6 points to -3 in November. Meanwhile, the savings indicator rose to +8.