United Kingdom Consumer Confidence

United Kingdom

Consumer confidence reaches highest level in over six years

In January, the GfK NOP consumer confidence index rose from the minus 13.0 points recorded in December to minus 7.0 points. The reading overshot market expectations of a slight improvement to minus 12.0 points and reached the highest level since September 2007.

The improvement in January was broad-based. Consumers were more optimistic regarding their personal finances for the next 12 months. Households were also more optimistic regarding the state of the economy over the course of the past year and their willingness to make major purchases improved compared to the previous month.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.3% in 2014, which is unchanged over last month's estimate. For 2015, the panel sees private consumption expanding 2.1%.

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United Kingdom Consumer Confidence Chart

United Kingdom Consumer Confidence January 2014

Note: GfK NOP Consumer Confidence Index.
Source: The GfK Group.

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