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UK consumer confidence reaches highest level since 2005

UK consumer confidence in June has risen to its highest level in nine years according to figures released by GfK in its latest Consumer Confidence Barometer.

GENERAL MERCHANDISE

UK consumer confidence reaches highest level since 2005

UK consumer confidence in June has risen to its highest level in nine years according to figures released by GfK in its latest Consumer Confidence Barometer.

The research firm’s headline figure climbed by one point to 1 this month. Gfk said the change was psychologically important in that the index moved into positive territory for the first time since March 2005.

The measure for the general economic situation over the next 12 months increased by one point this month to 13. While the ‘climate for major purchases’ index increased one point to -2, the measure for consumers’ personal financial situation over the next 12 months declined by three points to 3.

Nick Moon, managing director of social research at GfK, said: “The next few months will be particularly interesting, since the previous venture into positive territory was merely transitory – two isolated months in January and March 2005. The last time the index was consistently positive was back in 2002 and this must be the next “target” from the government’s point of view as we get close to the election period.”

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