UK consumer confidence reaches highest level in nine years

UK consumer confidence in Q1 2015 stood at 97, the highest it's been since Q1 2006, when it reached 101. A score above 100 indicates degrees of optimism – below 100, degrees of pessimism, according to Nielsen, which is behind the research.

This is the first time in 7 1/2 years that the UK index isn't below the global index, which is also at 97. Nielsen’s Global Survey of Consumer Confidence and Spending Intentions showed that 45% of UK consumers now feel positive about their job prospects.

45% also feel now is a good time to make purchases, up 3 points and the highest level since the question first appeared in the survey, 8½ years ago (Q3, 2006.) Half of UK consumers, 50%, now feel positive about their finances, the highest level for 7½ years (Q3 2007, 54%.)

“Consumer confidence in the UK continues to rise. The UK is one of the fastest growing major economies, unemployment is falling and people are benefiting from zero inflation and lower prices in supermarkets and petrol stations,” explains Nielsen UK managing director Steve Smith.
 
“Whilst the majority of people are still cost-cutting – perhaps habitually now – wages, for others, are rising faster than household expenses. This is leading to more optimism about their future spending, so we expect to see confidence continue to rise in 2015.”

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