Consumer in the United Kingdom were slightly more confident in the country’s economic outlook, new data out of GfK NOP shows.
The key index increased two points to -29, the first increase in sentiment since January — although the index remains mired in negative territory for 18 months now.
“The driver for this month’s surprise rise in consumer sentiment is borne entirely out of how people view the future rather than how they feel looking back at the last year,” Nick Moon, Managing Director of Social Research at GfK said.
Moon noted sentiment stood at the exact same level when the British economy entered the current recession in January and February of 2012.
Outlook for future economic performance increased 7 points to -26, the GfK survey showed.
“Even though optimism about how the economy will perform over the next 12 months has risen by seven points in the last month, it is still significantly down on where it was this time last year.”
Below, a look at sentiment over the past year.