UK Stoical As Consumer Confidence Holds Steady For May After Recent Rises.
Written by GFK NOP
10 Jun 2009
GfK NOP Consumer Confidence Index stays level at -27, only slightly better than the level seen this time last year.
Confidence in “personal finances” over the next 12 months has risen two points to -1; just higher than it was this time last year.
Expectations for the “general economy” over the next 12 months drop by one, but are still far better than this time last year.
Rachael Joy in the Consumer Confidence team at GfK NOP commented:
“After rising since February, the GfK NOP Consumer Confidence index has held steady at -27 this month. This is still very low historically, but is at least standing firm in the face of continuing depressed markets and May’s warnings of a possible pandemic. Worries about job losses and harder times are still very much alive – recent GfK NOP research shows that a quarter of the UK are concerned they may lose their job, and nearly half said they have concerns about maintaining their lifestyle – but the UK appears to be stoical about the continuing economic situation.”
UK Consumer Confidence Measures – May 2009
The overall index score this month remained at -27, two points higher than this time last year. The annual moving average also remains at the same level as last month, -33.
Personal Financial Situation
The index measuring changes in personal finances during the last year has dropped by one point to a score of -19; this is eight points lower than this time last year.
The forecast for personal finances over the next year continues to improve and has risen two points to a score of -1. This is three points higher than May ’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 –79; this is twenty-one points lower than this time last year.
Expectations for the general economic situation over the next twelve months have fallen by one point to -16; but still twenty-three points higher than May ’08.
Climate for Major Purchases
The major purchases measure has remained at the same level with a score of -22; this is now ten points higher than this time last year.
The ‘now is a good time to save’ Index, has risen one point to -16, but is still a massive forty-one points lower than May ’08.
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Last Updated ( 10 Jun 2009 )