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UK consumer confidence rises to 15-month high in September

UK Consumer confidence rose by 1 point in September to -28 hinting towards recovery and positive economic outlook, research firm GfK NOP said Friday.

The index rose to a 15 month high after stagnant last four months and experts are expecting the share market economy to come out of the recession in the coming three months as low inflation boosts spending power of the consumer.

Managing director of GfK NOP said, “Small though this month’s rise is, the Index is now higher than at any time since June last year, which the Government and retailers will hope means that we could be seeing the start of an uplifting Autumn.???

The measure reflecting consumers’ opinion of the general economic situation of the country during last year increased one point to -54. Households’ expectations in the coming 12 months remained unchanged at -27. The major purchases measure remained steady at -31.

However, GfK warned that the coming weeks will be significant and added, “We will have to wait for next month’s figures to see if there has been a real change in public mood and people are beginning to feel more secure economically just in time for Christmas or whether this is just an end-of-Summer blip.???

 

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