GfK’s UK Consumer Confidence Index remained stable at 1 in February. Three of the measures used to calculate the index have seen increases this month, with the remaining two decreasing.
Nick Moon, MD of Social Research at GfK, says: “The drop to -4 in December is looking more like a discrepancy. Other than that one month, the index has been at -1 plus or minus 2 for all of the last 11 months. Unless there is some dramatic change in the indicators that get media coverage, or people start feeling significantly better off as inflation edges towards 0, it is hard to see any major change between now and the election."