United Kingdom: Consumer confidence reaches six year high
September 27, 2013
In September, the GfK NOP consumer confidence index rose to minus 10 points, up from the minus 13 points recorded in August. The figure represents the highest value since November 2007 and was slightly above market expectations of an increase to minus 11 points.
The increase came on the back of consumers' improved outlook for the next 12 months as well as their more positive assessment of the general economic situation over the past 12 months. On the other hand, consumers' expectations for their personal finances remained unchanged over the previous month.
FocusEconomics Consensus Forecast panelists 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%.
Author: Dirina Mançellari, Senior Economist