November sees a fall in Consumer Confidence
The GfK NOP Consumer Confidence Index decreased by two points this month to -21.
November saw decreases for confidence in their personal financial situation over the next 12 months, confidence in the “general economy” over the last 12 months, confidence in the “general economy” over the next 12 months and the ‘major purchase index’.
Confidence in their personal financial situation over the last 12 months stayed the same in November at -13.
Nick Moon, MD of GfK NOP Social Research, comments:
"This month's fall in consumer confidence – which remains deep in the negative – is clearly not good news but there will be some crumbs of comfort for the government. There would need to be a further drop next month before we could definitely say things are getting worse, and that people really are concerned about the impact of the cuts in the Comprehensive Spending Review. What is more worrying in this month's figures is that the worst-performing elements of the index are those that look to the future, with a five point fall in confidence for people’s personal financial situation over the next 12 months. Consumer confidence appears to be finely balanced – we have seen the index see-saw between rises and falls every month since July. December's findings could therefore indicate what kind of 2011 the country can expect to see".
UK Consumer Confidence Measures – November 2010
The overall index score this month decreased by two points to -21, four points lower than this time last year. Four of the five measures this month decreased, with the remaining measure staying the same. The annual moving average decreased one point to -18.
Personal Financial Situation
The index measuring changes in personal finances during the last twelve months has stayed the same this month, at -13; this is one point higher than this time last year.
The forecast for personal finances over the next twelve months decreased by five points to -7, this is twelve points lower than November ‘09.
General Economic Situation
The measure for the general economic situation of the country during the last twelve months has decreased by three points to –46; thirteen points higher than this time last year.
An expectation for the general economic situation over the next twelve months has decreased by two points to -22, twenty five points lower than November ‘09.
Climate for Major Purchases
The major purchases measure has decreased by two points to -17; two points higher than this time last year.
The ‘now is a good time to save’ Index, has increased one point to -5, which five points higher than November ‘09.
About the survey
• The UK Consumer Confidence Survey from GfK NOP was conducted amongst a sample of 1999 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 November 2010.
• The figures contained within the Consumer Confidence Barometer have an estimated margin of error of +/-2%
• Results for the Consumer Confidence Barometer are normally available on the last working day of each month at 00.01am, however the release date for December is Tuesday 21st December 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 £1,775 plus VAT.
• The table below provides an overview of the questions asked to obtain the individual index measures.
About GfK NOP
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30 November 2010