27 February 2002, 15:31  UK consumer confidence falls in February after strong January rise - GfK

LONDON (AFX) - UK consumer confidence fell back slightly in February after January's sharp improvement, according to the latest monthly survey from Martin Hamblin GfK on behalf of the European Commission. According to the survey of at least 2,000 adults, the headline February consumer confidence barometer fell one point to +5. GfK added that four of the five key measures decreased during the month, with the exception of the expectations for the future of the general economic situation, which remained unchanged. February's consumer confidence decline was largely expected as it came after a very strong January result, when New Year optimism traditionally impacts on the barometer. The decline was driven by a one point fall in expectations for the future development of personal finances. Despite this increase, GfK noted that the measure is still currently at one of its highest levels since the survey began. GfK also noted a "more positive" attitude towards unemployment. The measure gauging perceptions of the level of unemployment over the next 12 months has fallen by 3 points in February and now stands at +24.

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