RTTNews - Consumer confidence in the UK improved in June, with the index rising to minus 25 from minus 27 in the previous month, the latest survey from the Gfk NOP showed Tuesday. The index was in line with economists' expectations. At the same time, the index came in better than the minus 34 registered in June last year.
After a pause last month, consumer confidence once more returned to growth and is now up 14 points from its all time low of last year. Confidence, however, remains fragile, as uncertainty about the strength of any recovery and an increase in unemployment all mean that consumers continue wary, Rachael Joy, analyst with the Gfk NOP said.
In June, consumers' assessment about the general economic situation over the last 12 months increased to minus 73 from minus 79 in May, while their perceptions regarding the general economic situation over the next 12 months improved to minus 8 from minus 16.
Consumers' sentiment regarding their personal financial situation over the next 12 months turned to a positive reading of 1 compared to minus 1 in May, while the corresponding index for the past 12 months moved up to minus 18 from minus 19. However, expectations for making major purchases dropped, with the index decreasing to minus 26 from minus 22 in the preceding month.
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