British Consumer Confidence Falls for First Time in Six Months

British consumer confidence fell for the first time in six months in July, a survey from researchers GfK NOP showed on Thursday, the latest sign that Britons are feeling less upbeat about the economic recovery.

GfK NOP’s headline consumer confidence index fell to -2 in July from 1 in June, which had been the first positive reading in the survey in nearly 10 years.

The fall contrasted with the average forecast in a Reuters poll for a rise to 2 in the main index, which had been steadily improving from readings well below zero.  “The almost relentless rise of the last six months couldn’t continue indefinitely, and the government will be hoping this is just a temporary setback rather than the forerunner of a wider decline in confidence,” said Nick Moon, managing director of GfK NOP Social Research, in a statement.

Reuters

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