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February sees no change in consumer confidence

Consumer confidence in the UK held steady in February, maintaining January's three point gain.

The headline index stayed at -26 in the month according to figures released by GfK NOP. The forecast for personal finances over the next 12 months rose 2 points to -5, the highest since May 2011, while the expectation for the general economic situation was unchanged at -25.

However, GfK’s gauge of the climate for making major purchases dropped 4 points to -26.

Nick Moon, managing director of social research at GfK, said: "This is the first time for over a year that there have been two consecutive months with the Index as high as -26, and while an unchanged figure may not seem very good news, the maintenance of all of last month’s three point gain is encouraging."

Moon added: "Even if the Index holds steady for a few more months, it is better to be steady at -26 than at -29, where it was for a year. Consumers may be regaining their breath before moving on to a new base camp in the ascent towards the -9 that is the overall average of the Index across its almost 40 year life."

GfK’s UK Consumer Confidence Survey was conducted amongst a sample of 2,002 with interviews talking place between 1 and 10 February 2013.

Source : The Retail Bulletin

28 February 2013
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