Belfast Telegraph

Consumer confidence strong but slowdown on way

By Josie Clarke

Consumer confidence is "pretty robust" given the tumult of the past 12 months, but the creep of inflation is starting to be seen in the general economy and shoppers' wallets, according to a survey released today.

Confidence fell by one point in December to 108.1, its lowest level since July in the aftermath of the EU referendum, the latest data from YouGov and the Centre for Economics and Business Research (Cebr) showed.

Each of the eight metrics covering household finances, property prices, job security and business activity that comprise the index fell - the first time this has happened since the month following the Brexit vote.

Cebr director Scott Corfe said: "The tail-end of the year has seen steady house prices, a low unemployment rate, and solid consumer spending.

"While this performance defies many doom-mongers, the slow creep of inflation is starting to be both seen in the economy at large and felt in consumers' wallets throughout the country. Despite things being better than many people expected, looking ahead to 2017 there is a feeling that a slight slowdown is on the way."

Belfast Telegraph