Consumer confidence dragging into life

Consumer confidence dragging into life

Monday, November 01, 2004

Consumer pessimism lingers on says research company GfK Martin Hamblin who report that the headline index rose just one point in October.

Last month the index dropped to its lowest level since the end of the Iraq war.

The modest increase was driven by marginal shifts on four out of the five measures that contribute to the headline index say the firm.

Grant Montague, Divisional Director at GfK Martin Hamblin commented: "Despite the one point increase in the index measure in October, consumer confidence in the economy is still relatively weak compared to recent years."

The pessimism is not reflected in the savings sector however and the perception of whether now is a good time to save continues on an upward trend. The measure has increased by two points to +23 (from +20 in September). This measure stands at twenty-four points higher than October 2003 (-1) and is the highest level it has been since January 2001.

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