UK Consumer Confidence Improves For Third Month Running
Written by GFK NOP
06 May 2009
GfK NOP Consumer Confidence Index continues a slow recovery, increasing three points to -27; a level not seen since April/May last year.
Confidence in the “general economy” over the next 12 months experienced a strong increase of 16 points, bringing it to levels not seen since August 2007.
Confidence in “personal finances” over the next 12 months has also risen three points.
Rachael Joy in the Consumer Confidence team at GfK NOP commented:
“The GfK index rose this month to -27, still historically low, but up 12 points from last July’s all time lowest ever. Significantly, this is now the third consecutive month that we have seen a rise in the index – suggesting a definite upward trend - and it’s largely driven by the public’s perception that the next twelve months will be better for both our own personal finances and particularly for the economy in general. This could be down to a combination of the simple belief that things are improving, as well as the feel good factor of improving weather following the Easter Bank Holiday. It is worth noting that fieldwork this month was carried out before the Budget announcement, so we’re very interested to see how next month’s results are affected by that.”
UK Consumer Confidence Measures – April 2009
The overall index score this month has risen three points to -27, three points lower than this time last year. The rise this month has been driven by increases in confidence the economic situation over the next twelve months. However the annual moving average continues downwards, dropping one point to -33.
Personal Financial Situation
The index measuring changes in personal finances during the last year has dropped by one point to a score of -18; this is ten points lower than this time last year.
The forecast for personal finances over the next year continues to improve and has risen three points to a score of -3. This is three points lower than April ’08.
General Economic Situation
The measure for the general economic situation of the country during the last twelve months has dropped by two points to –77; this is twenty-four points lower than this time last year.
Expectations for the general economic situation over the next twelve months have risen by sixteen points to -15; twenty-three points higher than April ’08. The score has not been this high since August 2007.
Climate for Major Purchases
The major purchases measure has risen for the fifth month in a row, by one point, to -22; this is now two points higher than this time last year. The score has not been this high since March 2008 when it measured -21.
The ‘now is a good time to save’ Index, has risen six points to -17, but is still a massive forty-five points lower than April ’08.
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Last Updated ( 06 May 2009 )