Consumer confidence has risen slightly since the beginning of the year but remains very fragile.
The GfK Nop Consumer Confidence Index increased two points to -35 for February, compared to the previous month.
According to the research, confidence in the general economic situation over the next year has increased eight points, with confidence in personal and household finances over the next 12 twelve months rising six points.
Rachel Joy of the consumer confidence team at GfK Nop said: “Consumer confidence remains very fragile, although it rose slightly from its January figure. The public certainly recognise that it’s been a tough year - with the lowest ever score for the general economic situation over the past 12 months, however, looking to the future, we saw an uplift in consumers’ views of both their personal situation and the general economy over the next 12 months. This suggests a growing number of consumers believe that things will be better this time next year.”
GfK Nop also said that its major purchases measure has risen for the fourth month in a row, by three points, to -24.