United Kingdom: Consumer sentiment recovers in January part of the ground lost in December
January 31, 2013
In January, the GfK NOP consumer confidence index rose to minus 26 points from minus 29 points in December. The figure came in ahead of market expectations, which had the index inching up to minus 28 points and, excluding November's reading, represents the highest level since May 2011.
Three out of the five main sub-categories that compose the index advanced in January, most notably the climate for major purchases. According to GfK NOP, "there's a definite note of optimism in these findings, with clear changes in how people view the general economic situation in the past year and looking to the coming 12 months". However, the company stressed that it is still too soon to tell if this is the start of sustained recovery in consumer sentiment, especially considering consumer's looming fears of a triple-dip recession.