GfK’s UK Consumer Confidence Index has increased by five points in January to 1. All five measures used calculate the Index Score saw increases this month.

Nick Moon, MD of social research at GfK, says: “With less than 100 days before the election, this big jump in the Index will be very welcome news for the Government, but before we get too carried away we need as always to look at the bigger picture.

"Last month I remarked that for the first time in eight months the Index had moved outside the range of -1 (plus or minus 2), and this month’s increase has done no more than return the index to that same range, albeit the upper end of it. If next month sees another rise, that will definitely signal good news for the Government but, if not, it will suggest that the growth in GDP is not making people feel better off.”

The forecast for personal finances over the next 12 months has increased four points this month to 5 – this is two points higher than January 2015. 

The measure for the General Economic Situation of the country during the last 12 months has increased five points this month to -5, 15 points higher than January 2014.

Expectations for the General Economic Situation over the next 12 months have increased four points this month to -1, three points lower than this time last year.

The Major Purchase Index has increased six points this month to 5, 15 points higher than this time last year.

The Savings Index has increased four points to -5, which is four points higher than January 2014.