UK consumer confidence perked up a touch in January, but despite record levels of borrowing and strong spending, buyers still see little to cheer about, according to a report released today The latest monthly survey from Martin Hamblin GfK on behalf of the European Commission shows UK consumer confidence rose one point in January to -3
January's rise comes after a dramatic drop of 6 points in December. The increase was not unexpected, as January typically shows an improvement as a result of the January sales, it added. "Whilst this monthly's index increase of 1 point reflects an increase in confidence, historically, we would expect to see a more marked improvement at this particular time of year," the survey noted. The major purchase intention measure has been the main contributor to the overall increase in the Index score this month.
The measure relating to the benefits of making purchases in the current climate increased by 10 points to stand at +25. The survey expected to see an increase of this measure as a result of the seasonal effect. //www.fxcentre.com