The United Kingdom continues to add salt to wound with every passing day, yet for now, an upbeat signals has been added to the chain of agony as Britons themselves are less pessimistic about their economic outlook!
Consumer confidence surged the most in 18 years in May according to Gfk NOP. The index leaped 10 points from April to minus 21, the highest in five months, and matching the biggest increase since May 1993. The rise in confidence was again attributed to upbeat April events that already supported retail sales, where the two consecutive long weekends supported easing jitter with the Easter weekend and the Royal Wedding weekend that followed.
The economic outlook index surged 15 points to minus 16. The gauge of consumers' view of their personal financial situation over the last year advanced by 5 points to minus 18. The index of expectations also gained 11 points to -3, and the gauge measuring the willingness to purchases major items jumped 5 points to -26.
The Gfk surveyed 2,005 Britons from May 06 to May 15 as the survey has a 2% margin of error.