UK DATA: GfK/NOP: UK November consumer confidence -22 vs -30 in October
-GfK/NOP Consumer confidence index highest since May 2011
The Nov GfK Consumer Confidence Index rose 8 points to -22, with
the increase in confidence the seventh strongest in the history of the
survey – which started in 1974. The headline reading was the highest
since May 2011. The spike was unexpected, with analysts’ median forecast
for an unchanged reading and it was the largest monthly increase since
May last year. That May 2011 rise proved to be short-lived, being fully
reversed over the next three months. The detailed figures show
consumers much more upbeat about the economic outlook and more likely
to spend on big-ticket items – which is good news for retailers.