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News Release from: GfK NOP | Subject: Consumer cofnidence
Edited by the Marketingservicestalk Editorial
Team on 31 March 2008
UK Consumer Confidence continues to fall
The GfK NOP Consumer Confidence Index score has dropped by two points to -19, the lowest level since February 1993.
All five measures of consumer confidence have fallen in March Rachael Joy in the Consumer Confidence team at GfK NOP commented: "Consumer Confidence again continues its downward trend for the seventh month in a row
This article was originally published on Marketingservicestalk on 14 Aug 2007 at 8.00am (UK)
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"With news reports of possible recession in America, fears of recession in the UK, and stock market fluctuations, the consumer's gloom is growing.
"We will see if the budget announcements made this month improve the mood of the consumer over the next few weeks".
The two-point decrease in the overall index score this month - now standing 11 points lower that this time last year - has been caused by a fall across all five measures.
The annual moving average has dropped to -9.
Personal Financial Situation: the index measuring changes in personal finances during the last year has dropped by three points to a score of -4; this is four points lower than in March last year.
The forecast for personal finances over the next year has dropped two points to a score of +4; six points lower than in March 2007.
It was last this low in March 2000.
General Economic Situation: the measure for the general economic situation of the country during the past 12 months dropped to a score of -43; this is ten points lower than March last year and three points lower than last month.
This score is falling towards a level not seen since April 1993 when it was -51 (following the World Trade Centre bombing on 26 February 1993).
Expectations for the general economic situation over the next 12 months have dropped to -32; eleven points lower than in March 2007.
This score has not been this low since October 1992.
Climate for Major Purchases: the major purchases measure has fallen by two points, from -19 to -21; this is a 19 points lower than in March last year.
This level of depression has not been seen since April 1995.
Savings Index: the 'now is a good time to save' Index has dropped by three points to +25; ten points lower than in March 2007.
The UK Consumer Confidence Survey from GfK NOP was conducted among a sample of 2,007 individuals aged 16+ on behalf of the European Commission.
Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population.
Interviewing was carried out between 7 and 16 March 2008.
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