UK Consumer Confidence Rises For Second Month


UK consumer confidence strengthened for the second straight month driven by Boris-bounce in January, survey results from the market research group GfK showed Friday.


The consumer confidence index increased two points to -9 in January. The score came in line with expectations.


Joe Staton, client strategy director at GfK, said "If current trends continue, we'd expect a return to positive headline scores soon."


Although the indicator failed to penetrate positive territory, two consecutive months of improvement is good news, Staton noted.


The index measuring past changes in personal finances advanced four points to +1. Likewise, the forecast for personal finances over the next 12 months gained three points to +6.


The measure for the general economic situation over the last year increased three points to -28. Similarly, expectations for the general economic situation climbed three points to -24 in January.


However, the major purchase index dropped two points to +1. The decline reflected January's seasonal post-Christmas empty-wallet feeling, and further impacting the longer-term contraction and sluggishness experienced across the retail sector.


Meanwhile, the savings index gained two points to +20.


The Consumer Confidence Barometer is conducted by GfK in partnership with the European Commission.


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