Consumer confidence holds steady at 12-year high

Consumer confidence held steady in April at its highest level since 2002, according to new figures from research firm GFK. 

Its latest Consumer Confidence Barometer stayed at 4 during the month. Of the five measures used to calculate the index, two have stayed the same, two have seen increases and one measure has decreased.

The forecast for personal finances over the next 12 months remained the same at 7 during April, while the index measuring expectations for the general economic situation of the country over the next 12 months also remained the same at 6.

Meanwhile, the major purchase index decreased by three points in April to 6 and the savings index increased four points to -2.

Nick Moon, managing director of social research at GFK, said that the figures represent mixed fortunes for the government as it goes into the next election.

He said: “On the one hand, there is no continuing momentum – the Index has not risen since last month – while on the other hand the Index is standing at a far higher point than when the government came to power.

“In May 2010, the core index score was -18. After dipping to as low as -33 in December 2011, it was out of negative territory at zero by May 2014 and over the past 11 months has recorded six positive scores. We haven’t seen the scores of the past two months (+4) since September 2002.”