Consumer confidence edges up in September
Consumer confidence edged up in September to its highest level since June 2011, providing grounds for optimism on the economy, GfK NOP said today.
GfK NOP's monthly consumer confidence index improved to -28 in September from -29 in August. Nick Moon, managing director of social research at GfK NOP, said: "Small though this month's rise is, the Index is now higher than at any time since June last year, which the Government and retailers will hope means that we could be seeing the start of an uplifting autumn."
However, GfK said there would need to be more than one month’s positive data to be sure of any lasting improvement in consumer morale.
Moon added: "We will have to wait for next month's figures to see if there has been a real change in public mood and people are beginning to feel more secure economically just in time for Christmas, or whether this is just an end-of-summer blip."
Two of the five measures increased in September while the remaining three measures stayed unchanged.
The index measuring changes in personal finances during the last twelve months stayed the same at -21, while the forecast for personal finances over the next twelve months increased by two points to -8.
The measure reflecting consumers' opinion of the UK’s general economic situation during last year increased one point to -54. Expectation for the general economic situation over the next twelve months remained unchanged at -27.
The major purchases measure remained steady at -31, but is three points lower than the same month last year. The 'now is a good time to save' Index decreased five points to -18.
The UK Consumer Confidence Survey from GfK was conducted amongst a sample of 2,004 people aged 16+ on behalf of the European Commission.
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