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Consumer confidence edges up in December

New figures have shown that consumer confidence has edged up this month but still remains at a near historic low. GfK’s Consumer Confidence Index has increased… View Article

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Consumer confidence edges up in December

New figures have shown that consumer confidence has edged up this month but still remains at a near historic low.

GfK’s Consumer Confidence Index has increased by two points in December to -42 as people’s incomes continue to be eroded by inflation.

Joe Staton, client strategy director, GfK, said: “December marks the eighth month in a row in which the index has bumped along at -40 or worse, the first time this has happened since our records began nearly 50 years ago. Despite the latest GDP figures showing slight growth in October, the warning is of a tough road ahead and that the UK is not out of the recessionary woods.”

While the forecast for personal finances over the next 12 months remained at -29, the index measuring expectations for the general economic situation over the same period has improved by five points to -53,

Meanwhile the major purchase index is up four points to -34 which is 28 points lower than December last year.

Staton added: “As we enter the festive season, the overall index score is still depressed and, with scant seasonal joy at present and no immediate prospect of fiscal good news, it is unlikely we will see a rebound in confidence anytime soon.”

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