GfK’s UK Consumer Confidence Index has stayed at the same level this month at -2. Two of the five measures used to calculate the Index Score saw decreases this month, two of the five measures stayed at the same level and the remaining measure saw an increase.
Nick Moon, MD of social research at GfK, says: “This is the eighth month in a row that the Index has stood within two points either way of -1. We are clearly in very different territory to the period between April 2013 and June 2014 when there was a dramatic overall rise. Sluggishness like this has happened before, most notably from July 2011 to October 2012, so it is quite possible this flat period will continue for some time longer. Were it the same length as the last one this flat period would go on right up till the election.
The Government will be hoping to go into the General Election on a rising tide, and there is clearly scope for this: since the Index began in 1974 we have seen scores of +10 or higher on several occasions. But unless the public gets another burst of good economic news it’s hard to see this happening anytime soon.”
The index measuring changes in personal finances during the last 12 months has stayed the same this month at -7; this is 10 points higher than November 2013.
The forecast for personal finances over the next 12 months has decreased two points this month to 2; this is six points higher than November 2013.
The measure for the General Economic Situation of the country during the last 12 months has stayed the same this month at -6; this is 20 points higher than November 2013.
Expectations for the General Economic Situation over the next 12 months have decreased two points this month to 0; this is one point higher than this time last year.
The Major Purchase Index has increased five points this month to 0; this is 13 points higher than this time last year.
The Savings Index has decreased three points this month to -9, which is two points higher than November 2013.