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Consumer confidence has experienced an ‘almost unprecedented jump’ in May, research finds.

The GfK NOP Consumer Confidence Index, based on research of more than 2,000 individuals, has increased ten points this month to -21, with rises seen across all five measurement criteria.

The figure is based on data on respondents’ personal finance situation and the general economic climate, as well as the climate for major purchases, which questions respondents on whether they feel now is the right time to make bigger purchases such as furniture or electrical goods.

Nick Moon, managing director of GfK NOP Social Research says that the jump in confidence is ‘almost unprecedented’ this month. ‘May’s figures show the second largest rise ever, with only May 1993 experiencing higher, when it improved by 12 points,’ he says.

Moon adds that in the 449 months the index has been running, single-month movement on this scale – either up or down – has only occurred on ten occasions.

However, he also advises that it is far too early to know whether this could be the start of an upward trend. ‘We are improving from a rock bottom position and consumer confidence is still deeply in the negative. So, whether the current spring in consumers' step is due to the feel-good factor of the Royal wedding and a double-whammy of sunny bank holidays, or to the recent let-up in negative reporting about the state of the economy, we are not out of the woods,’ he adds.

The measure of the study that has improved the most is ‘Personal Financial Situation over the next 12 months’, with the index score moving from -14 in April 2010 to -3 this month.

The ‘General Economic Situation over last 12 months’ category suggests respondents’ faith in the economy has improved over the past year, with the score moving from -57 to -44.

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