Consumer confidence rises again

Category: Economy
Date: 2/26/2010

Consumer confidence improved again during February, with sentiment on both general and personal circumstances healthier than it was in January.

The GfK NOP consumer confidence index rose by three points this month, following on from January's two point increase. In the last 12 months, the index has climbed by some 21 points.

"The Government will be pleased to see the overall index continuing to rise, and only one point short of its recent peak," said Nick Moon, managing director of GfK NOP social research.

Figures showed that, as well as an improvement in the general mood of the public, the perception of other areas of the economy improved during February.

The index showing the personal financial situation over the next 12 months registered a two point gain since January and has risen from -8 to six in the last year.

The view of the general economic situation over the coming 12 months has also improved. In February 2009, the index showed a score of -40; that score is now in positive territory at four – an increase of six points in the last month.

Views on the general economic situation over the past 12 months improved, with the index showing a seven point rise in the last month.

"It is 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," observed Mr. Moon.

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