–GfK/NOP: UK Feb Consumer Confidence -28 Versus -29 Jan
LONDON (MNI) – UK consumer confidence edged up in February from its
January low, according to the latest GfK NOP Consumer Confidence Index.
The February consumer confidence index came in at -28, up from -29
in January, which was the lowest reading since the -30 seen in March
2009. The GfK index is continuing to run way below the series’ long run
average of -8, and only 11 points above its all time low of -39.
There were small rises in the personal financial and spending
measures but perceptions of the economic situation deteriorated.
Consumers’ perceptions of their personal financial situation over
the past 12 months rose to -16 in February from -18 in January and their
perceptions of their financial situation over the next 12 months rose to
-10 from -12.
The climate for major purchases index, which measures consumers’
views of whether now is a good time to buy big ticket items, rose to -25
from -29.
Perceptions of the economic situation over the past 12 months fell
to -55 in February from January’s -54 and over the next 12 months fell
to -31 from -30.
“February’s index shows that public feeling has barely changed from
last month. The statistically insignificant increase shows that while
consumer confidence has stabilised, it has not bounced back,” Nick Moon,
managing director of GfK NOP, said.
“Overall confidence remains low and although it has not reached
the depths of 2 years ago, the fact that it is 10 points down on six
months ago, and 14 points down on a year ago, represents a significant
set-back to hopes of recovery,” Moon added.
–London newsroom 44207 862 7491; email: ukeditorial@marketnews.com
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