Consumer confidence holds steady in February
Consumer confidence in the UK held steady in February as low inflation made people feel more confident about their financial situation.
GfK’s latest Consumer Confidence Barometer shows that the headline index remained at 1 during the month.
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.”
While the forecast for personal finances over the next 12 months rose by one point to 6, the index measuring expectations for the general economic situation over the next 12 months rose by four points to 3.
Meanwhile, the climate for major purchase index decreased by one point to 4. This is 15 points higher than the same time last year.
