(RTTNews) - Consumer sentiment in the United Kingdom rose unexpectedly in August, results of a survey showed Tuesday.The Consumer Confidence Index increased to minus 18 from minus 22 in July, market research group GfK NOP said. Economists had forecast a decline in the index to minus 24. It was the first gain in the index since February, when it climbed to minus 14. The August reading is seven points higher than the same period last year. Among the components, four of the five measures increased, while one declined.
"Overall consumer confidence has been in constant decline for the last five months and a further fall would have made a double-dip recession seem a very real prospect," Nick Moon, managing director of GfK NOP Social Research said. "The single biggest improvement has been in confidence in the economy over the next 12 months and this looks particularly encouraging on first sight."
1 comentario:
U.K. Consumer Confidence Rises In August
(RTTNews) - Consumer sentiment in the United Kingdom rose unexpectedly in August, results of a survey showed Tuesday.
The Consumer Confidence Index increased to minus 18 from minus 22 in July, market research group GfK NOP said. Economists had forecast a decline in the index to minus 24. It was the first gain in the index since February, when it climbed to minus 14. The August reading is seven points higher than the same period last year. Among the components, four of the five measures increased, while one declined.
"Overall consumer confidence has been in constant decline for the last five months and a further fall would have made a double-dip recession seem a very real prospect," Nick Moon, managing director of GfK NOP Social Research said. "The single biggest improvement has been in confidence in the economy over the next 12 months and this looks particularly encouraging on first sight."
The index reflecting consumers' expectation for the general economic situation over the next twelve months added eleven points to minus14. However, it was five points lower than a year ago. "This gain merely reverses a similarly large drop in July and in reality confidence in the economy's future prospects remains below its June level and similar to May 2009 when we were still in the grips of a recession," Moon said.
Publicar un comentario