Consumer Morale Increases in UK British consumer morale strengthened more than expected in August, matching Junes nine-year high, as Britons became more confident about the economy and their financial prospects, a survey showed on Friday. Polling company GfK said its monthly consumer confidence index rose to +1 in August from -2 in July, beating forecasts for a smaller increase to -1 in a Reuters poll. The survey suggested consumer spending will remain one of the biggest drivers of Britains swift economic recovery. Its major purchases index rose to its highest level since August 2007 - around the start of the financial crisis. Nick Moon, managing director of social research at GfK, said it looked like consumer confidence might be entering a new period of stability. There is no guarantee how long this stable position will last - a rush of good or bad economic news could set off a marked rise or fall, but things could stay like this for a while, he said, pointing to previous periods of stability. All five of the measures GfK uses to gauge consumer confidence increased this month.
Posted on: Fri, 29 Aug 2014 08:57:27 +0000