GfK NOP Consumer Confidence Barometer
Written by GFK NOP
15 Apr 2010
Consumer Confidence dips in March
- The GfK NOP Consumer Confidence Index dropped by one point this month to -15.
- Confidence in their personal financial situation in the last 12 months, and confidence in their personal financial situation in the next 12 months have both decreased this month.
- Confidence in “general economy” over the last 12 months has increased.
- The ‘major purchase Index’, has dropped one point to -17.
Nick Moon, MD of GfK NOP Social Research, comments:
“With the election only weeks away the government will be disappointed that consumer confidence has slipped this month. The fall is small but still significant given we saw confidence improve for the first two months of the year.
“Particularly disturbing is the lack of confidence in the country’s economic performance over the next 12 months. While consumer outlook is more positive than the same time last year, this fall in confidence around budget time does not bode well.”
UK Consumer Confidence Measures – March 2010
The overall index score this month dropped by one point to -15 and is now at -14, fifteen points higher than this time last year. Four of the five measures this month decreased with the remaining measure increasing by one point. The annual moving average also improved and is now -21.
Personal Financial Situation
The index measuring changes in personal finances during the last year has dropped by two points this month to -15; this is two points higher than this time last year.
The forecast for personal finances over the next year decreased by two points to a score of +4, this is ten points higher than March ‘09.
General Economic Situation
The measure for the general economic situation of the country during the last twelve months has risen by one point to –49; twenty seven points higher than this time last year.
An expectation for the general economic situation over the next twelve months has decreased by four points to 0, This is thirty points higher than March ‘09.
Climate for Major Purchases
The major purchases measure has dropped by one point this month to -17; four points higher than this time last year.
The ‘now is a good time to save’ Index, has decreased seven points to -13, which is twelve points higher than March ‘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 March 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 Friday 30th April 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.
The table below provides an overview of the questions asked to obtain the individual index measures:
31st March 2010