UK consumers stoical over economy

Friday 29th May 2009

Despite the fear of further job losses and the prospect of a swine flu pandemic, British consumer sentiment held firm in May.

The latest consumer confidence barometer from GfK NOP is on minus 27, down from last month but two points up from this time last year.

Confidence in personal finances rose two points to minus one, again higher than last year, while overall economic expectations for the coming 12 months dropped one point.

Rachael Joy of GfK NOP accepted that this month's barometer was "very low historically".

"But [it] is at least standing firm in the face of continuing depressed markets and May's warnings of a possible pandemic," she explained.

"Worries about job losses and harder times are still very much alive - recent GfK NOP research shows that a quarter of the UK are concerned they may lose their job, and nearly half said they have concerns about maintaining their lifestyle - but the UK appears to be stoical about the continuing economic situation." ADNFCR-1783-ID-19191833-ADNFCR

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