The GfK NOP Consumer Confidence Index remained steady for the third month in a row, holding at -25.
Confidence in “general economy” over the last 12 months has experienced an increase of three points.
The ‘now is a good time to save’ Index, has risen two points to -10; the highest this score has been this year.
Rachael Joy in the Consumer Confidence team at GfK NOP commented:
“Our index for UK consumers’ confidence in the economy has remained stable for the third month in a row, with the score showing that, while UK consumers are still cautious about the economy, they are less pessimistic than this time last year. There has been a slight drop, compared to last month, in confidence for the general economy in the coming 12 months – but, compared to this time last year, we’re showing significantly less depression when looking to the future. Recent reports of housing market improvements and economic recovery may well be lifting the public confidence.”
UK Consumer Confidence Measures – August 2009
The overall index score this month remained at -25, eleven points better than this time last year; but still a low level historically. The annual moving average also improved and is now, -31.
Personal Financial Situation
The index measuring changes in personal finances during the last year has increased by one point to a score of -18; this is two points lower than this time last year.
The forecast for personal finances over the next year remained the same as last month. This is twelve points higher than August ’08.
General Economic Situation
The measure for the general economic situation of the country during the last twelve months has risen by three points to –69; the same as this time last year.
An expectation for the general economic situation over the next twelve months dropped one point and now has a score of -9, but is still thirty-eight points higher than August ’08.
Climate for Major Purchases
The major purchases measure has dropped one point to -26; twelve points higher than this time last year.
The ‘now is a good time to save’ Index, has risen two points to -10, but is still thirty one points lower than in August ’08.
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