Consumer confidence is boosted
Dec 19 2008
Figures from market research group GFK NOP show a rise by two points in the level of consumer confidence, reaching -33 for December.
The faith of buyers still remains low, but the organisation says the reduction in petrol prices and interest rates has gone some way to boosting the market.
The index which measures confidence in making large purchases jumped by ten points to -29, but is still 15 points lower than 2007's figures for December.
Rachael Joy from the consumer confidence team at GfK NOP says high street deals and the 2.5 per cent reduction in VAT have 'improved customer's views' as this is the second month in a row an increase in confidence has been seen.
'The crucial question for the economy is whether the improvement in this index will be translated into activity on the high street during Christmas and the January sales,' she adds.
The confidence figures come as the Office of National Statistics reports a 1.7 per cent rise in retail sales in November, compared to the same period last year.
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