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Consumer confidence holds steady in February

Consumer confidence among UK shoppers, which reached a five-month high last month, held steady at +1 in February.

The latest Consumer Confidence Barometer from research firm GfK also predicts the level to maintain in the run up to the general election in May, driven by low inflation and rising wages. 

Three of the five measures used to calculate the index increased during the month, with the remaining two decreasing, leading to a match with January’s level.

The result shows a stark contrast year on year. In February 2014 the level was eight points lower at -7.

Outlook is particularly strong for personal finances in the next 12 months, which has risen to six; its highest level since May 2014.

Managing director of social research at GfK Nick Moon said: “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.”

@LukeToddUK

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