The GfK NOP Consumer Confidence Index rose by three points this month to -14.
Confidence in “general economy” over the last 12 months has risen by seven points to -50.
Confidence in general and confidence in their own personal situation in the next 12 months have both increased.
The ‘major purchase Index’, has stayed the same at -16.
Nick Moon, MD of GfK NOP Social Research comments,
“The government will be pleased to see the overall index continuing to rise, and only one point short of its recent peak. It is still almost inconceivable that the index will be in positive territory by the election, but so long as it continues to rise, the government will continue to hope that people associate their improving mood with actions taken by the government. It is also significant that, for the second month running, the biggest gains in individual elements of the index were for the view of the economy in general over the last and next 12 months.”
UK Consumer Confidence Measures – February 2010
The overall index score this month rose by three points and is now at a score of -14, twenty one points higher than this time last year. Four of the five measures this month increased with the remaining measure staying the same as January 2010. The annual moving average also improved and is now -22.
Personal Financial Situation
The index measuring changes in personal finances during the last year has increased by one point this month with a score of -13; this is five points higher than this time last year.
The forecast for personal finances over the next year increased by two points to a score of +6, this is fourteen points higher than February ‘09.
General Economic Situation
The measure for the general economic situation of the country during the last twelve months has risen by seven points to –50; thirty-two points higher than this time last year.
An expectation for the general economic situation over the next twelve months has increased by six points to +4, this is fourty-four points higher than February ‘09.
Climate for Major Purchases
The major purchases measure has stayed the same this month at -16; eight points higher than this time last year.
The ‘now is a good time to save’ Index has decreased four points to -6, which is nineteen points higher than February ‘09.
·The UK Consumer Confidence Survey from GfK NOP was conducted amongst a sample of 2000 individuals aged 16+ on behalf of the European Commission.
·Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population.
·Interviewing was carried out during 5th – 14th February 2010.
·The figures contained within the Consumer Confidence Barometer have an estimated margin of error of +/-2%
·Results for the Consumer Confidence Barometer are available on the last working day of each month at 00.01am the next release is Wednesday 31st March 2010.
·Any published material requires a reference to both GfK NOP and the European Commission e.g. ‘Research carried out by GfK NOP on behalf of the European Commission’.
·This study has been running since 1974. Back data is available from 1996.
·Want to know even more? ~ Annual subscriptions are also available for £1,750 plus VAT.
About GfK NOP
GfK NOP Ltd is part of the GfK Group and a leading market research agency in the UK and internationally. It is a renowned supplier of market information and insight, offering sector specialists and best-in-field research for qualitative, quantitative, ethnographic, omnibus and online research services.
The GfK Group
The GfK Group provides the fundamental knowledge that industry, retailers, services companies and the media need to make market decisions.
It offers a comprehensive range of information and consultancy services in the three business sectors of Custom Research, Retail and Technology and Media.
As the no. 4 market research organization worldwide, the GfK Group operates in more than 100 countries and employs over 10,000 staff. In 2008, sales amounted to EUR 1.2 billion.
26th February 2010