–Sub-Components Of Survey Show Broad-Based Falls
–Survey Reveals More Pessimism On Future Econ, Personal Finances
–GFK/NOP: Too Early To Say If Falls Amount To A More Enduring Trend

LONDON (MNI) – UK consumer confidence fell back in November to -21
from -19 in October, according to the latest GfK NOP Consumer Confidence
Index.

Consumers were less confident in their personal financial situation
over the next 12 months, confidence in the general economy over the last
12 months, confidence in the general economy over the next 12 months and
the major purchase index also fell.

Confidence in their personal financial situation over the last 12
months stayed the same in November at -13.

Nick Moon, MD of GfK NOP Social Research, said it was too early to
say if the impact of the government’s austerity policies was to blame
for the drop in confidence:

“This month’s fall in consumer confidence – which remains deep in
the negative – is clearly not good news but there will be some crumbs of
comfort for the government. There would need to be a further drop next
month before we could definitely say things are getting worse, and that
people really are concerned about the impact of the cuts in the
Comprehensive Spending Review”.

“What is more worrying in this month’s figures is that the
worst-performing elements of the index are those that look to the
future, with a five point fall in confidence for people’s personal
financial situation over the next 12 months. Consumer confidence appears
to be finely balanced – we have seen the index see-saw between rises
and falls every month since July. December’s findings could therefore
indicate what kind of 2011 the country can expect to see.

Interviewing for the survey was carried out between November 5 and
14 2010.

Optimism in the personal financial situations index for the next 12
months fell to -7 this month from the -2 seen in October and remains
12 points lower than in November 2009. The index measuring changes in
personal finances during the last year remained unchanged at -13.

The GfK/NOP survey found that there was a 3-point fall in the
public’s perception of the general economic situation over the past 12
months, to -46; although this is still 13 points better than in November
2009.

Expectations for the general economic situation over the next 12
months worsened to -22 from -20, 25 points lower than in November 2009.

The climate for Major Purchases also fell, to -17 from -15 in
October; only two points better than a year ago.

–London newsroom 44207 862 7491; email: ukeditorial@marketnews.com

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