Consumer confidence still at rock bottom, says Gfk

Consumer confidence in the UK has barely lifted since hitting a two and a half year low in October, according to the Gfk NOP index.

According to the latest survey, which questions 2,006 people aged over 16, the overall index of confidence in November was up just one point compared to October and ten points down on the November of 2010.

People's views on their personal finances was also marginally up, at minus 23 as opposed to minus 24 the previous month, but still in significantly negative territory.

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The view of the "general economic situation" came in at minus 61, again one point up on October but, revealingly, 15 points lower than in November last year.

If there was one possible bright spot the "climate for major purchases" index rose five points to minus 27 but Nick Moon, managing director of Gfk's Social Research division said: "Even this five point gain is doing little more than overturn the four point loss on the same measure last month, and the Index for making a major purchase remains heavily negative."

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