Consumer confidence remains unchanged

5 August 2009

Consumer confidence remained unchanged in July, according to a new survey, as optimistic views on the economy as a whole were offset by Britons` lower expectations for their own finances.

The GfK NOP consumer confidence index remained at -25 in July - 14 points higher than at the same point last year.

However, confidence in `personal finances` over the next 12 months fell by one point, suggesting that many people may still be concerned about things like personal debt.

Rachael Joy of GfK NOP said: "While consumers’ perception of finances - both personal and general - over the coming twelve months is significantly higher than this time last year, the lack of major movement in any of the ratings suggests that consumers are still uncertain and waiting to see what happens."

Consumer confidence has suffered throughout the economic downturn, with fears surrounding unemployment, rising costs of living and increasing debt problems all adding to the uncertainty. However, there has been steady improvement in recent months.

Tags: consumer, confidence, personal, finance

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