31.10.201802:56:00UTC+00UK GfK Consumer Confidence Weakens In October

UK consumer confidence weakened as expected in October, market research firm GfK reportedly said Wednesday.

The consumer sentiment index dropped to -10 in October from -9 in September. The reading came in line with expectations.

Consumers were more concerned about economic situation over the coming twelve months. Their assessment about making major purchases also deteriorated ahead of the Black Friday and Christmas. A survey from the Confederation of British Industry this week showed that retail sales growth eased in October but retailers expect sales to pick up next month. A net balance of 17 percent expect sales to rise in November.