Surveys reveal UK consumers are optimistic on the economy

Chris Papadopoullos
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CONSUMER confidence is at pre-recession levels, new figures show.

The consumer confidence index released today by German market research company GFK maintained a score of one for February. At the peak of the financial crisis, the index hit minus 40, but is now at levels last seen in 2005. Another measure of consumer confidence released by YouGov and the Centre for Economic and Business Research yesterday also revealed buoyant levels of confidence. Within the GFK survey, the major purchase index gained 14 points on the year indicating consumers were far more willing to make a major purchase than they were a year ago.

“Unless there is some dramatic change in the indicators that get media coverage, or people start feeling significantly better off as inflation edges towards 0, it is hard to see any major change between now and the election,” said Nick Moon, managing director of social research at GFK.

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