Research company, GfK, reports its UK Consumer Confidence Index, which measures the general economic situation, savings and major purchases, has increased by three points this month (January 2013) to -26 with consumers demonstrating a propensity to make major purchases.
Nick Moon, managing director of social research at GfK, said: “There’s a definite note of optimism in these findings, with clear changes in how people view the general economic situation in the past year and looking to the coming 12 months.
“More importantly, it looks as if there has been some good news for retailers this month with people more willing to make major purchases compared to December last year. It’s worth noting however people’s views of their own financial situation aren’t as optimistic, with no improvement expected in the next 12 months, and a drop of two places over last year’s personal financial situation.
“This suggests it is too soon to say if more positive views on the general economy mark the start of sustained rise in the Index. Indeed, the continuing gloom from the high street and the talk of triple-dip recession makes that seem somewhat unlikely, but a rise in two months out of the last three is an encouraging sign.”
UK consumer confidence measures – January 2013
The overall index score has increased three points this month to -26. Three of the five measures increased this month, one stayed the same and one measure decreased. The annual moving average stays the same at -29.
Personal financial situation
The Index measuring changes in personal finances during the last twelve months has decreased two points this month to -24; this is two points lower than January 2012.
The forecast for personal finances over the next twelve months has stayed the same this month at -seven; this is two 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 four points to -51; this is seven points higher than January 2012.
An expectation for the general economic situation over the next 12 months has increased six points this month to -25; this is eight points higher than this time last year.
Climate for major purchases
The major purchases measure has increased this month to -22; this is the same level as this time last year.
The ‘now is a good time to save’ Index, has increased four points to -16, which is five points lower than January 2012.