GfK: Consumer confidence unchanged in February

GfK’s UK Consumer Confidence Index has stayed at 1 in February. Three of the measures used to calculate the index have seen increases this month, with the remaining two measures decreasing.

Nick Moon, Managing Director of Social Research at GfK, says: “The drop to -4 in December is looking more like a discrepancy. Other than that one month, the index has been at -1 plus or minus 2 for all of the last 11 months. Unless there is some dramatic change in the indicators that get media coverage, or people start feeling significantly better off as inflation edges towards 0, it is hard to see any major change between now and the election.”

The Overall Index Score has stayed the same this month at 1. Three of the five measures used to calculate the index have seen increases this month with the remaining two measures showing decreases.

Personal Financial Situation
The index measuring changes in personal finances during the last 12
months has decreased one point this month to -3; this is 10 points higher
than February 2014.
The forecast for personal finances over the next 12 months has increased
one point this month to 6; this is two points higher than February 2014.

General Economic Situation
The measure for the General Economic Situation of the country during the last 12 months has increased two points this month to -3; this is 14 points higher than February 2014.3

Expectations for the General Economic Situation over the next 12 months have increased four points this month to 3; this is one point higher than this time last year.

Major Purchase Index
The Major Purchase Index has decreased one point this month to 4; this is 15 points higher than this time last year.

Savings Index
The Savings Index has decreased three points to -8; which is four points higher than February 2014.

Source : GfK
www.gfk.com/uk/Documents/Press-Releases/GfK%20Consumer%20Confidence%20Barometer%20Press%20Release%20(February%202015)%20FV.pdf