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The Deloitte Consumer Tracker

Q3 2013

The Deloitte Consumer Tracker

We are pleased to present the latest results of the Deloitte Consumer Tracker. This report is an economic update focusing on consumer sentiment, spending attitudes and behaviours based on our proprietary consumer survey and analysis of the macroeconomic environment.

Out of the woods yet?

UK consumers are feeling more positive about their incomes than at any time in the past two years, since the Tracker began. Whilst sentiment remains in negative territory, Q3 2013 continues an upward trajectory that has been underway for a year. Consumers are more positive about job opportunities and job security, a sign of an improving labour market, albeit one with stubbornly low wage growth.

While momentum in the consumer market continues to build, consumers looking ahead to 2014 remain concerned about rising prices. However, more people expect the value of their property to rise compared with a year ago, and more expect their debts to fall.

While the uptrend in consumer confidence is encouraging, the key to strengthening the nascent recovery in the consumer market is a return to above-inflation growth in real incomes.

Key findings

  • Consumers' confidence about their level of disposable income is at its highest since the Deloitte Consumer Tracker began in Q3 2011.
  • Fewer consumers experienced a loss of income in Q3 2013 and more started a new job.
  • There is less upward pressure on the price of essentials such as groceries and utilities and more spending on discretionary categories such as going out and holidays.
  • A higher proportion of consumers are expecting property value to increase in 2014.
  • The key to a sustainable recovery in consumer activity is falling inflation and a pickup in earnings.

Read the Deloitte CFO Survey

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