Consumer confidence rose slightly in October, up by 1 point
to –19*. Both current (up 1 point) and future personal finance measures (up 3
points) rose, together with the current measure of the economic situation compared
to a year ago (up 3 points).
The future measure of the economic situation over the next
12 months slipped 1 point to –20 compared to September and is now 23 points
lower than a year ago. There is no change in the measure of the spending
climate for making major purchases (-15).
This month’s measure did not reflect reaction to the
Comprehensive Spending Review - coming after the GfK October CC survey – which
is likely to result in a fall next month back into the low / no growth confidence
range.
Confidence varies across the UK with a chillier outlook in
Northern Ireland (-30) and Scotland (-25). It is strongest in the Midlands
(-16) and the South (-18).
Among the under 30s confidence fell while among the over 50s
confidence rose to its highest since last June.
Unlike last month when confidence fell among the lowest and
highest earnings bands, this month confidence rose.
* October monthly consumer confidence survey carried out by
GfK NOP among 2,000 adults aged 16+, representative of the UK population for
the European Commission
Full details of the mood of UK consumers are found in the UK
Consumer Confidence Monitor published in Mid-November. Details +44 (0) 208 944
7510 or email j.gilbert@jgfr.co.uk