The GfK/NOP composite index of consumer confidence, a gauge of consumption sentiment in Britain, edged down the second month in a row in October, as consumers felt more dismal on economic outlook than before, data showed market researcher GfK on Friday.
The survey's composite measure of consumer confidence slipped from minus one (-1) in September to -2 in October, the second month of decline of the index. But it remained within the top 25 percent of all readings since the survey was first conducted four decades ago, data showed.
British consumer confidence on economic situation over next 12 month declined from 4 in September to 2 in October, and climate for major purchases sentiment dropped from zero to -5 over the same period, data showed.
While consumers' confidence on their own finances over next 12 month climbed from 1 in September to 4 in October.
Samuel Tombs, Senior UK Economist at Capital Economics, said in an analysis piece: "We doubt that confidence will weaken much further and expect the recovery in spending to maintain its pace."
Looking ahead, consumers' spirits should be boosted by the return of rising real earnings, as the CPI inflation nominal looks set to dip below one percent over the coming months, he added.
The London-based economic research company expect the annual growth in real household spending to pick up from two percent in 2014 to 2.5 percent in 2015 and 2016./.