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Consumer confidence rises by one point, says GfK

UK consumer confidence rose in September, providing “grounds for optimism” on the economic outlook, GfK NOP Ltd. said.

An index of sentiment rose one point from August to minus 28, a 15-month high, the London-based research group said in an e-mailed report today. The gauge held at minus 29 for the previous four months.

The index “will offer some grounds for optimism to the government after such a stagnant summer,” Nick Moon, managing director of social research at GfK, said in a statement. “However, we will have to wait for next month’s figures to see if there has been a real change in public mood.”

Data yesterday showed the economy shrank less than previously estimated in the second quarter as disposable incomes rose the most since 2009. Bank of England Markets Director Paul Fisher was quoted by the Sun newspaper as saying that third- quarter gross domestic product will be “very strong.”

GfK’s measure of Britons’ outlook for the economy over the next 12 months held at minus 27. An index of their assessment of the economy over the previous year rose 1 point to minus 54 and a measure of the climate for making major purchases held at minus 31.

A gauge of how Britons see their personal financial situation over the next year rose 2 points to minus 8, while their views on their situation over the previous 12 months held at minus 21. GfK interviewed 2,002 people between Aug. 31 and Sept. 9.

GDP fell 0.4 percent in the second quarter from the first, the Office for National Statistics said yesterday. The decline was less than the 0.5 percent previously thought and an initial estimate of a 0.7 percent drop. Real household disposable income rose 1.9 percent.

Source : Svenja O’Donnell - Bloomberg

28 September 2012
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