United Kingdom: Consumer confidence edges up in January
January 31, 2017
The GfK NOP consumer confidence indicator inched up from minus 7 points in December to minus 5 points in January, although the index remains entrenched in negative territory, where it has been since April of last year, highlighting that consumers are still broadly pessimistic.
January’s rise reflects an improvement in consumers’ personal financial situations over the last 12 months and for the coming year, as well as an amelioration in the general economic situation over the last 12 months. In contrast, consumers’ perceptions of the general economic situation over the next 12 months remained constant, while their likelihood of making major purchases dipped relative to December.
Author: Oliver Reynolds, Economist