‘Bleak midwinter’ for UK consumers

Consumer confidence has slipped in the crucial run-up to Christmas as Omicron and the soaring cost of living threaten a depressing end to the year for retailers.

GfK’s Consumer Confidence Index fell one point to minus 15 in December. The Major Purchase Index decreased by three points to minus six, although it is 16 points higher than this month last year.

GfK client strategy director, Joe Staton, said: “News about the Omicron variant could not have arrived at a worse time for festive celebrations.

“As thoughts began turning to Christmas and the New Year, Omicron jumped out of nowhere and threatened to bring

Santa’s sleigh crashing to a halt.

“While the holiday season has not yet been hijacked, the lack of Yuletide cheer is evident.

“We end 2021 on a depressing note and it looks like it will be a bleak midwinter for UK consumer confidence possibly with new Covid curbs and little likelihood of any real uplift in the first months of 2022.”