United Kingdom: Consumer confidence hits a two-year high in June
June 28, 2013
In June, the GfK NOP consumer confidence index inched up to minus 21 points from minus 22 points in May. The figure represents the highest reading in 25 months and came in line with market expectations. GfK stated that "a one point rise is not of itself important, but what matters more is that it is another marker in what now appears to be a clear upward trend".
The monthly improvement mainly reflected an increase in the climate for major purchases as well as in both the assessment of the general economic situation during the last 12 months and expectations over the next 12 months. On the other hand, respondents were more pessimistic about their personal financial situation.
FocusEconomics Consensus Forecast panellists expect private consumption to expand 1.1% in 2013, which is up 0.1 percentage points over last month's estimate. For 2014, the panel sees private consumption expanding 1.5%.