Consumer confidence on the up

Consumer confidence in the UK has remained at its highest level since the recession hit and expectations for the next six months are optimistic, according to Nationwide.

Consumers

According to the building society’s November Consumer Confidence Index report, confidence remains unchanged at 73 points for the second consecutive month.

The news follows expectations from WPP media agency network GroupM predicting an economic upturn in the UK advertising industry may come out of a recession earlier than predicted.

Global ad spend is also tipped to slightly increase in the new year.

According to the Nationwide, optimism about the future economic situation was strong in November. Of the 1000 people surveyed, 84% believed that the economic situation would be the same or better in six months time.

However, confidence in the present economy fell, with the proportion of consumers who believed the current situation to be in good shape dropping to 7%.

Martin Gahbauer, Nationwide’s chief economist, says: “In the last few months, consumer confidence has lost some of the upward momentum evident earlier in the year. However, expectations for the next six months have not abated.”

Last month, the index found that fears of unemployment and other economic uncertainties were still having a negative effect on spending.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here