Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Consumer confidence increases in October

Shopper confidence rose again this month when sentiment hit its highest level since January 2008.

 

GfK NOP’s Consumer Confidence Index, compiled on behalf of the European Commission, rose to -13, a three point increase month-on-month.

Confidence in the “general economy over the next 12 months” slipped one point to +3, but it was still only the second time since 1999 that the measure was in positive territory. Sentiment about making big-ticket purchases rose three points to -12, the highest level since November 2007.

Although overall sentiment remained negative GfK NOP consumer confidence team member Rachael Joy said: “We have now not seen a drop in the monthly confidence rating throughout 2009 indicating a steady, if cautious uplift in confidence in our economic situation.”

She said that the survey’s findings overall indicated “a possible adjustment in attitude to the new ‘age of austerity’, where people are becoming more comfortable with living with restricted spending.”

Capital Economics chief European economist Jonathan Loynes said the findings may be good news for the Government. He observed: “If confidence does carry on rising over the coming months the election result may be rather less of a foregone conclusion than many people are currently assuming.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.