7 April 2009
On average, consumers began showing more confidence in March, according to the GfK NOP Consumer Confidence Index. The overall index score rose five points, climbing from -35 in February to -30 in March.
The low base rate was one factor in this, cutting the average cost of servicing mortgage debt and so providing many people with extra disposable income.
As gfknop.com reports, there were slight improvements in the `Personal financial situation over last 12 months` and `Personal financial situation over next 12 months` categories, which rose from -18 to -17 and from -8 to -6 respectively.
Confidence in the nation as a whole was also up: the scores for `General economic situation over last 12 months` and `General economic situation over next 12 months` were up from -82 to -75 and from -40 to -31 respectively.
The `Climate for major purchases` score improved slightly, rising to -24, up one point from last month.
"This month Consumer Confidence jumped quite significantly to levels not seen since May last year," said Rachael Joy, a member of the Consumer Confidence team at GfK NOP. "It still remains historically very low, but suggests that lower interest rates and a better picture for household bills are restoring some confidence among UK Consumers. Certainly, when looking to the future, consumers are feeling better about the likely performance of the economy over the next 12 months.”
---
Think Money offer a range of debt solutions, including debt management, debt consolidation loans and IVAs (Individual Voluntary Arrangements). If you are worried about your debt, contact one of our expert debt advisers today.
Answer a few simple questions and we'll give you an instant recommendation on your best way out of debt.
Your privacy is important to us. All correspondence is held in the strictest of confidence and we will only request information required to find your best debt solution.
Tags: mortgage debt, mortgage, debt, consumer confidence, confidence, GfK NOP, Consumer Confidence Index, low base rate, base rate, extra disposable income, economy
Concern over energy debt 28 July 2010
Base rate predictions and the cost of debt 27 July 2010
Debt: unauthorised overdrafts cost an average of 167% a year 26 July 2010
Scottish insolvencies see fall on last year 26 July 2010
Debt: surge in number of bankruptcies amongst women 26 July 2010
Fees payable when continuing service is provided. Repaying debt over a longer period may increase the total amount to be repaid. Calls are recorded and are usually free from UK landlines. Mobile phone users may be charged and should check with their service provider.
Call our freephone number for expert advice
Think Money Limited © 2010. All rights reserved. Pennington House, Carolina Way, South Langworthy Road, Salford Quays M50 2ZY. Company Reg No: 04926097. Registered in England and Wales.