More consumer confidence glums from GfK
Indicator: The GfK Consumer Confidence index
Updated 8 May 2013
This gauges the monthly mood swings of Britain's consumers. It "tracks changes in personal finance, the general economic situation, inflation, unemployment, the current purchasing climate, and consumer spending and saving", say its compilers GfK/NOP. And it's another handy guide to where the UK's house prices are heading.
What's the latest?
For April, the GfK fell to -27. The April Halifax UK three-monthly house price index saw a 2.0% year-on-year rise.
What does this mean for UK house prices?
(Source: Bloomberg)
The GfK UK consumer confidence indicator leads the annual % change in the Halifax UK three-monthly house price index by some four months. The broad downtrend in the GfK indicates that household budgets are still under pressure, which in turn points to further house price falls.
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