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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