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Consumer confidence rises

Consumer confidence rises

Category: Money

Updated: 29/01/2010
First Published: 29/01/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The new year has started positively, as figures show that consumer confidence has improved and is significantly better than it was 12 months ago.

The GfK NOP consumer confidence index rose by two points during this month and is up by 20 points on the score seen in January 2009.

"Alongside the news that the economy has just crept out of recession, the return of the CCB to upward movement after two months of falling back will be welcome news for the Government," said Nick Moon, MD of GfK NOP Social Research.

The survey's other indices showed further improvements in public sentiment.

The personal financial situation over the next 12 months increased by a point and sits in positive territory – this time last year it was -14.

The perception of the state of the general economic situation over the last 12 months has also improved, perhaps helped by a housing market that appears to be slowly getting back to health.

Looking forward to the coming 12 months, consumer confidence has improved vastly when compared with opinion in January 2009. Whereas the measure was then -48, it is now almost in positive territory at -2, and has risen by four points in the last month alone.

The measure to gauge the public's thoughts on the climate for major purchases remained at -16, but has gained eleven points on this time last year.

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