GfK’s UK Consumer Confidence Index has once again increased by three points this month to -10.
The measure for personal financial situation over the last 12 months has stayed the same this month; measures for personal financial situation over the next 12 months, general economic situation of the country over the last 12 months and over the next 12 months, and the major purchase index all see increases in September.
Nick Moon, Managing Director of Social Research at GfK, comments:
“The Consumer Confidence conundrum continues. In the same week that figures from ONS show that UK productivity is lower than every G7 country except Japan, the Consumer Confidence Barometer has taken another clear step upwards, gaining three points to -10. This is the highest the Index has been since November 2007, when the catastrophic fall prompted by the credit crisis was developing momentum. Back then the index fell a massive 35 points in a year (starting at - 4 in August 2007 and dropping to - 39 in July 2008), but it has now reversed all but six points of that fall.
The Index has gone up in each of the last five months and gained a total of 17 points, the biggest five-month gain since January 1993. Whether the current economic recovery is real or will prove to be a credit-fueled bubble, this continuing steady growth in confidence looks like good news for the Government."
See Nick Moon talking about this month’s CCB here: youtu.be/dwJpQSz7vq4
UK consumer confidence measures – September 2013
The overall Index score has increased by three points this month to -10. Four of the five measures saw increases this month, and the remaining measure stayed the same. The annual moving average increases one point to -23.
Personal financial situation
The Index measuring changes in personal finances during the last 12 months has stayed the same this month at -16; this is five points higher than September 2012.
The forecast for personal finances over the next 12 months has increased one point this month to 1; this is nine points higher than this time last year.
General economic situation
The measure for the general economic situation of the country during the last 12 months has increased four points to -25; this is 29 points higher than September 2012.
Expectations for the general economic situation over the next 12 months has increased four points this month to 3; this is 30 points higher than this time last year.
Climate for major purchases
The major purchases measure has increased two points this month to -14; this is 17 points higher than this time last year.
The ‘now is a good time to save’ Index has decreased three points this month to - 17, which is one point higher than September 2012.
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