United Kingdom: Consumer confidence stable in February
February 28, 2014
In February, the GfK NOP consumer confidence index was stable at January's minus 7.0 points, the highest level since September 2007. The figure was in line with market expectations. February's figure was driven by a deterioration in households' views of their personal finances in the last 12 months, which was offset by an improvement in their assessment on the general economic activity over last year. In addition, consumers' sentiment regarding the general economic situation over next 12 months remained unchanged compared to January. 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%.
Author: Dirina Mançellari, Senior Economist