January has seen a five point increase in consumer confidence levels according to GFK’s Index Score. This jump signals good news for the government and for business owners alike as shoppers are more willing to part with their money after the Christmas period.
Nick Moon, Managing Director of Social Research at GfK, says:
“With less than 100 days before the election, this big jump in the Index will be very welcome news for the government, but before we get too carried away we need as always to look at the bigger picture. Last month I remarked that for the first time in eight months the Index had moved outside the range of -1 (plus or minus 2), and this month’s increase has done no more than return the Index to that same range, albeit the upper end of it. If next month sees another rise, that will definitely signal good news for the government but, if not, it will suggest that the growth in GDP is not making people feel better off.”
These figures have been backed up by the CBI’s Distributive Trades Survey published earlier this week stating the retail sector grew by 39% last year.