UK Sept consumer confidence index rises one point to -7

The Indian summer enjoyed in September helped consumer confidence in the UK pick up a tad, a closely-watched survey found today. In its monthly survey, pollsters GfK/NOP said its headline index rose one point in September to -7, in line with market expectations. A year ago, the headline index stood at -5. GfK/NOP said the annual moving average remained the same at -6. "After a gloomy August, September's sunshine combined with the start of the new school year has helped to cheer consumers and leave them feeling more optimistic," said Carol Bernasconi, divisional director at GfK/NOP. A more detailed look at the survey shows that four of the five measures that make up the headline index increased between August and September. The index regarding changes in household finances over the last 12 months has risen by two points to +2 over the month, two points higher than a year ago. However, the index regarding the outlook for the next twelve months has dropped one point from August to September to +10, the same as a year ago. The survey also showed that views regarding the general economic situation of the country over the last twelve months has risen by three points in September to -32. In September 2005, this index stood at -28. There has also ben a rise in expectations for the general economic situation over the next twelve months, with the index rising two points to -21. In September 2005, this index stood at -16. Elsewhere, GfK/NOP said the measure on whether now is the right time to make major purchases has risen a monthly one point to +8. In September 2005, this index stood at +9. Finally, the survey's 'now is a good time to save' index, which is not part of the headline number, has risen four points to +34. The current index is eight points higher than a year ago. The survey was conducted among 2000 individuals on behalf of the European Commission between Sept 1-7.