April’s UK consumer confidence highest in a year

UK consumer confidence has rebounded for the third consecutive month bringing April’s consumer confidence to its highest level for more than a year.

Research carried out by GfK NOP for the European Commission showed that confidence in the general economic situation was at -15, which was a 16-point improvement on the strongest previous assessed date back in August 2007.

For the up and coming year, consumers are more confident about their personal finances with the overall index improving by three points in April.

GfK NOP consumer confidence director, Rachael Joy, said that the most significant point is that the index has experienced three consecutive monthly rises, which suggests a positive upward trend and is a direct result of the public’s perception that the next 12 months will be better than the last.

It is this increased optimism that retailers hope will continue, although this month’s findings were taken prior to the announcement of the budget, so it is difficult to predict what consumer sentiment will be next month.

Marks & Spencer boss, Sir Stuart Rose, said the results are signs of economic stability, although it is too early to talk of recovery, things have picked up since Christmas.

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