UK Consumer Confidence Creeps Up Again

The UK's Consumer Confidence Index figure has risen for the third consecutive month and is now at a level higher than that of December last year. However, the rise is slow and the mood cautious, according to research carried out by Martin Hamblin GfK on behalf of the European Commission.

The research suggests that pessimism about developments over the past year is beginning to subside, although the overall index is up only one point from -3 in May to -2 in June.



Perceptions of 'personal finances over the last 12 months' have increased by 3 points to -1, but are still 8 points lower than June last year. Expectations for the future of personal finances have also increased, by 1 point during June and currently stand at +12. This is the same level as June 02.

The general economic situation over the last 12 months is viewed with slightly more cheer than it was last month, but over half of the sample, 52%, still believe that the general economic situation has worsened in that time - and the rating is down 18 points from 12 months ago.

Expectations for the future of the general economic situation have dipped slightly after a big improvement in recent months: to a figure of -9, one point down on May's figure and five down on June last year.

Perceptions of the climate for making major purchases have declined slightly in the last month, as have views of whether or not now is a good time to save - but the latter (at +2) is still 7 points higher than June 2002, and the number of respondents actually intending to save over the next 12 months has risen again, five points on May and nine on June 2002. From the graph, it is fairly clear that respondent perceptions of the climate for savings have improved markedly overall, over the last two months.



Cost of living expectations are down very slightly versus last month - by 2 points to +60, ie anticipating a smaller rise in cost of living than anticipated previously.

The survey was conducted amongst a sample of 2001 individuals aged 16+, representative of the UK population, from 29th May to 17th June 2003.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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