|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
30th of May 2011
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
May 27, 2011    

UK consumer confidence surges in May

Bookmark and Share

by Kay Murchie
”UK

A survey conducted between May 6 and 15 revealed a strong rise in consumer confidence.

According to the survey of consumer attitudes, carried out by GfK NOP Social Research, confidence jumped to -21 from April’s two-year low of -31.

May’s reading represents the biggest increase since May 1993 and surprised analysts who had expected a flat reading.

GfK said the survey shows Britons are feeling more optimistic about their finances and the economy in general.

However, commenting on the findings, managing director Nick Moon said: “It is far too early to know whether this could be the start of an upward trend.

“We are improving from a rock-bottom position and consumer confidence is still deeply in the negative. We are not out of the woods.”

The economy received a further boost today after the Nationwide revealed house prices rose 0.3% in May on a monthly basis.

However, house prices are still 1.2% lower on an annual basis but the three month on three month measure of house price increases (a better indicator of the underlying trend) was little changed at 0.6%.

Discuss this in the Finance Markets forums

Story link: UK consumer confidence surges in May



Financial Services:





Related financial stories to: UK consumer confidence surges in May:
Previous: «
Next: »

Visited 478 times, 29 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , GfK NOP, , , , ,

 

Economy News feed Economy News

All Financial News feed All Financial News