GfK’s UK Consumer Confidence Index has increased three points this month to 1. All five measures used to calculate the Index Score saw increases this month.
Nick Moon, MD of Social Research at GfK, says: “It looks as if we might be in a new period of relative stability for the Index. 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). And indeed the last five months have all been within a range of -1 (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).
"It is worth noting that the score for the two questions concerning the last 12 months rose by more than the two concerning the next 12 months, suggesting that people are reassessing the past more than feeling more hopeful about the future.”
UK Consumer Confidence Measures – August 2014
The Overall Index Score has increased by three points to 1 this month. All five measures saw increases this month.
Personal Financial Situation
The index measuring changes in personal finances during the last 12 months has increased four points this month to -7; this is nine points higher than August 2013.
The forecast for personal finances over the next 12 months has increased three points this month to 5; this is five points higher than this time last year.
General Economic Situation
The measure for the General Economic Situation of the country during the last 12 months has increased six points this month to -1; this is 28 points higher than August 2013.
Expectations for the General Economic Situation over the next 12 months have increased two points this month to 11; this is 12 points higher than this time last year.
Major Purchase Index
The Major Purchase Index has increased two points this month to -1; this is 15 points higher than this time last year.
The Savings Index has increased one point this month to -8, which is six points higher than August 2013.