UK: Confidence rises for the first time since February
Consumer Confidence Barometer - August 2010
London, August 31, 2010 - The GfK NOP Consumer Confidence Index increased by four points this month to -18. This is the first time since February that we have seen the overall confidence level increase. August saw increases for confidence in their personal financial situation over the last 12 months, confidence in their personal financial situation over the next 12 months, confidence in the "general economy” over the last 12 months and confidence in the "general economy” in the next 12 months. The ‘major purchase Index’ was the only measure to decrease this month by four points, and is now -20.
Index Score August 2009 - August 2010
Nick Moon, MD of GfK NOP Social Research, comments: "Overall consumer confidence has been in constant decline for the last five months and a further fall would have made a double-dip recession seem a very real prospect. The government will undoubtedly read these figures with a great deal of relief.
"The single biggest improvement has been in confidence in the economy over the next 12 months and this looks particularly encouraging on first sight. However, this gain merely reverses a similarly large drop in July and in reality confidence in the economy’s future prospects remains below its June level and similar to May 2009 when we were still in the grips of a recession.”
UK Consumer Confidence Measures – August 2010
The overall index score this month rose by four points to -18, seven points higher than this time last year. Four of the five measures this month increased, with one measure decreasing. The annual moving average stays the same at -18.
|
Measure |
Aug 2010 |
Jul 2010 |
Aug 2009 |
|
Overall Index Score |
-18 |
-22 |
-25 |
|
Personal Financial situation over last 12 months |
-12 |
-14 |
-18 |
|
Personal Financial situation over next 12 months |
-3 |
-6 |
* |
|
General Economic situation over last 12 months |
-43 |
-48 |
-69 |
|
General Economic situation over next 12 months |
-14 |
-25 |
-9 |
|
Climate for major purchases |
-20 |
-16 |
-25 |
Personal Financial Situation
The index measuring changes in personal finances during the last year has increased two points this month, and is now -12; this is six points higher than this time last year.
The forecast for personal finances over the next year increased by three points to -3, this is three points lower than August ‘09.
General Economic Situation
The measure for the general economic situation of the country during the last twelve months has increased by five points to –43; twenty six points higher than this time last year.
An expectation for the general economic situation over the next twelve months has increased by eleven points to -14, five points lower than August ‘09.
Climate for Major Purchases
The major purchases measure has decreased by four points this month to -20; five points higher than this time last year.
Savings Index
The ‘now is a good time to save’ Index, has decreased four points to -6, which is four points higher than August ‘09.
About the GfK NOP Consumer Confidence survey
Any published material requires a reference to both GfK NOP and the European Commission e.g. ‘Research carried out by GfK NOP on behalf of the European Commission’.
About GfK NOP
GfK NOP Ltd is part of the GfK Group and a leading market research agency in the UK and internationally. It is a renowned supplier of market information and insight, offering sector specialists and best-in-field research for qualitative, quantitative, ethnographic, omnibus and online research services.
More information
For more information or interviews on GfK NOP's Consumer Confidence index, please contact:
Allison Joyce
PR Manager
020 7890 9000
Allison.Joyce@gfk.com
www.gfknop.com
| GfK Consumer Confidence Index - United Kingdom | |
Charts August 2010