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Consumer confidence index rises by three points in August

Consumer confidence in the UK rose by three points to 1 in August according to figures released by GfK in its latest Consumer Confidence Barometer.

GENERAL MERCHANDISE

Consumer confidence index rises by three points in August

All of the measures used to calculate the research firm’s Index Score saw increases.

Nick Moon, managing director of Social Research at GfK, said the figures show that confidence levels might have entered a new period of relative stability.

He added: “After several months of almost constant increase, the last four months have all seen the Index within a range of 0 plus or minus 2. There is no guarantee how long this stable position will last - a rush of good or bad economic news could set off a marked rise or fall, but things could stay like this for a while - in 2011/12 there was more than a year when the index stayed in the range of -31 plus or minus 2.”

While measure for consumers’ expectations for the general economic situation over the next 12 months increased by two points to 11, the measure for personal finances over the next 12 months rose by three points to 5.

Meanwhile, the ‘climate for major purchases’ index increased two points to -1 which is 15 points higher than the same time last year.

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