Consumer confidence fell three points to -13 in November as Brexit threatens to turn the season of goodwill into the “season of uncertainty”.
All five measures GfK uses to calculate the Index decreased in November with concerns over household finances, the general economy and purchase intentions.
The major purchase index suffered the most, falling seven points, which does not bode well for Christmas trading.
GfK client strategy director Joe Staton said this was “unhappy news for retailers”.
“The next few weeks are highly unlikely to inject any festive cheer, especially if Theresa May’s Brexit deal doesn’t win backing from MPs,” he said.
“The denouement to more than two years of bewildering Brexit wheeler-dealing looks like it will be enacted precisely when many consumers would prefer to be thinking of a well-earned Christmas break, filled with family get-togethers, warmth and festivity.
“Brexit appears to be turning this year’s ‘season of goodwill’ into ‘the season of uncertainty’.”
The view on the general economy in the coming 12 months fell four points, as did the perception of the past year’s personal finances. However, the view on personal finances over the next 12 months fell by just one point.