GfK NOP Consumer Confidence Index has increased two points to -35.
Confidence in the “general economic situation over the next 12 months” measure has risen eight points.
Confidence in the “personal household finances over the next 12 months” increased six points.
Rachael Joy in the Consumer Confidence team at GfK NOP commented:
“Consumer confidence remains very fragile, although rose slightly from its January figure. The public certainly recognise that it’s been a tough year -with the lowest ever score for the general economic situation over the past 12 months, however, looking to the future, we saw an uplift in consumers’ views of both their personal situation and the general economy over the next 12 months. This suggests a growing number of consumers believe that things will be better this time next year.”
UK Consumer Confidence Measures – January 2009
The overall index score this month has risen two points to -35, eighteen points lower than this time last year. The rise this month has been driven by increases in confidence the personal and economic situation over the next twelve months. The annual moving average has dropped one point to -31.
Personal Financial Situation
The index measuring changes in personal finances during the last year remained the same this month with a score of -18; this is seventeen points lower than this time last year.
The forecast for personal finances over the next year has risen six points to a score of -8. This is fourteen points lower than February ’08.
General Economic Situation
The measure for the general economic situation of the country during the last twelve months has continued to fall, dropping two points to –82; this is forty-two points lower than this time last year.
Expectations for the general economic situation over the next twelve months have risen by eight points to -40; eleven points lower than February ’08.
Climate for Major Purchases
The major purchases measure has risen for the fourth month in a row, by three points, to -24; this is now only five points lower than this time last year.
The ‘now is a good time to save’ Index, has dropped by seven points to -25, this is a massive fifty-three points lower than February ’08.
The UK Consumer Confidence Survey from GfK NOP was conducted amongst a sample of 2001 individuals aged 16+ on behalf of the European Commission. Interviewing was carried out during 6th – 15th February 2009.
Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population.
The figures contained within the Consumer Confidence Barometer have an estimated margin of error of +/-2%
This study has been running since 1974. Basic data is available from 1982, full data from 1996. Subscriptions and full data sets are available.
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