United Kingdom: Consumer confidence improves slightly
September 30, 2011
In September, the seasonally adjusted consumer confidence index elaborated by GfK NOP increased 1 point over the previous month to settle at minus 30 points, coming in above market expectations that had seen the index falling to minus 33 points. September's modest rise in consumer sentiment mainly reflected an improvement in the component that gauges peoples' outlook for the general economic situation over the next 12 months, which edged up by 4 points. Furthermore, consumers' showed greater willingness to buy durable goods, with the climate for major purchases index improving by 3 points. Despite the monthly increase, consumer sentiment remains subdued, which augurs ill for private consumption in the near-term.