UK GfK consumer confidence falls in October, meets analyst expectations
The UK GfK index of consumer confidence dropped last month according to data released on Friday.
In a report carried out in early October on behalf of the European Commission, GfK's consumer confidence index fell to a seasonally adjusted -2 from -1 in September, matching analyst expectations.
Though index had ranked higher in August and June, reaching +1, consumer confidence in the economy was at its lowest last month since February.
This data presents further evidence that Britain's economic revery is experiencing a slowdown in the last six months of the year.
Managing director for social research at GfK Nick Moon said: "It is likely that people will have to start feeling personally better off if the index is to get solidly into positive territory."
The Labour party has criticised the Tory-led coalition government for keeping wage growth low despite improving economic performance.
However, a different survey administered by Nielsen showed that consumer confidence had reached its highest level in seven years.
Nielsen's UK managing director Steve Smith argued: "Confidence is moving in the right direction, but the fact remains, as a whole, Britons are still pessimistic about what's ahead."