LONDON (MNI) – Consumer confidence remained stuck at a low level in
April, according to the latest consumer confidence survey from GfK.
The overall index score was unchanged on the month at -31, the same
level as April 2011 and way below a five-year average of -23.
The index measuring changes in personal finances during the last
twelve months increased this month from -25 to -23, but the
forward-looking forecast for personal finances over the next twelve
months fell three points to -13.
The measure for the general economic situation of the country
during the last twelve months has increased two points this month to
-57, but the expectation for the general economic situation over the
next twelve months decreased by three points to -33, the survey showed.
Commenting on the data, Nick Moon, Managing Director of Social
Research in GfK said that this month’s figures will not offer the
government any relief in light of the news that the economy has slipped
back into recession.
“We are now approaching a whole year with the Index stuck within a
narrow range of -29 to -33, and it is clear that much like the economy
as a whole, consumer confidence is in the doldrums. And unfortunately,
there are no signs either within the survey or in the recent economic
figures to suggest any immediate improvement,” he added.
GfK said that the survey data had been collected between March 30
and April 15. That would make it well ahead of the April 25 release of
Q1 GDP which showed that the UK economy was back in recession.
–London newsroom 44207 862 7491; email: ukeditorial@marketnews.com
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