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Confidence surveys, with information generally released ahead of official statistical data, can indicate changes to the economic outlook as well as turning points in the economic cycle.

European Commission Economic Sentiment Indicator

The European Commission conducts regular harmonised surveys for different sectors of EU member states’ economies.

Between October and November 2020, the overall UK sentiment index fell by 6.2 points to 78.4, the sharpest decrease since April.

CBI Industrial Trends Survey

The CBI carries out monthly and quarterly Industrial Trends surveys.

In November, more manufacturers thought that output would fall over the next three months than thought it would rise. The difference was -10% of manufacturers, down from October’s +15%.

GfK Consumer Confidence Survey

GfK’s Consumer Confidence Index (carried out on behalf of the European Commission) measures a range of consumer attitudes, including forward expectations of the general economic situation and households’ financial positions, and views on making major household purchases.

The index was -33 in November, down by two points from -31 in October to its lowest point since May.


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