Consumer confidence improved marginally in February but remains extremely weak, GfK NOP's Consumer Confidence Index has found.

GfK NOP’s Consumer Confidence Index rose by two points month on month to -35, but is still 18 points down year on year.


The improvement reflected greater confidence in the economic outlook for the next 12 months and in personal household finances over the same period.


Rachael Joy of GfK NOP’s consumer confidence team said: “Consumer confidence remains very fragile, although it rose slightly from its January figure.”


She said the uplift in consumers’ views of their personal circumstances and the economy generally “suggests a growing number of consumers believe things will be better this time next year”.


The climate for big-ticket spending improved as the major purchases measure rose for a fourth consecutive month to stand at -24, but it is still five points down year on year.


The index measuring whether “now is a good time to save” dropped seven points to -25 and is 53 points down on February 2008.

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