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 email@example.com