Blog: Consumer Confidence Rises Close to Lifting Lockdown

The most recent analysis by YouGov and the Centre for Economics & Business Research state consumers are consistently much more confident, and continue to be.

Consumer Confidence Flies High Come February

Come February, Britain's consumer confidence score soared to 105.4 with an extra two points. This is what we want because any score hit higher than 100 means that increasing customers are feeling more confident, compared to those not. Hopes and expectations for business activity, household finances and house prices over the course of the next annum push, and drive this rise.

YouGov Record Positive Data on Financial Security

YouGov records consumer confidence numbers and date each day- carrying out more than 6,000 interviews per month. The responding people give answers to queries and questions concerning job security, property prices, household finances and business activity. They are looking ahead to the upcoming year.

Workplace Activity in Improved Territory

Individuals in work believe that their workplace activity will be much higher, increased 12 months from this point, give the stats for the biggest push to the underlying data, with a score of 5.4. In the last 30 days, retrospective measure of business activity increased and decreased- it also bettered itself by 2.7 points. It stands at a good territory at the score of 102.5.

Only One Drop

There is only one drop that is in consumer confidence showing up on stats in homeowners guessing how exactly, in the last 30 days, the values of their properties have differed- as the score dropped by a recording of 1.2. This is actually the first occurrence of house prices dropping since the month of May. Those analysts think it may be possibly a pre sign of that market score calming down. But... with a score of 108.1, a higher recording of homeowners are positive about their outlook, vastly compared to those who do not.

House Prices Improve

House prices improved by a score of 3.2 – 116.6. Many, actually the majority of home owners thinking that their properties will become higher in value in the next 12 months. This analysis was taken and made official before- the stamp duty cut was stated by the chancellor to be put into position come July, and then until the month of October.

Occupation Security Rise

In other places, workers were recorded at feeling increasingly secure in their occupations, during the last 30 days, because security in jobs increased from 2.4 – 89.7, however this implies the general thinking remains majority in negative. However they DO feel much happier for the coming future, looking on 12 months from this point, on the security of jobs, to be improved from 0.9 – 112.2.

 The Chancellor's Update + Robust Employment Expectancy

The chancellor was to announce the extension of the furlough scheme and companies in the UK said that most robust employment intentions recorded dating back to the beginning of the pandemic were stated to have emerged.

Darren Yaxley, the Director of Reputation Research at YouGov stated:

"This month's consumer confidence index indicates that the cautious growth of January has continued into February. February's results saw all but one metric improve on the previous month and the index itself not far off pre-pandemic numbers, reaching the highest point since the coronavirus crisis began."

"January's growth was primarily driven by improvements among consumers' personal finances, as some were able to save during the national lockdown and outgoing's were reduced, and by the resilience of the housing market. However, this month's optimism for business activity over February and for the coming 12 months has been the main drivers for improvement."

For Britons

People residing in Briton stated that their financials increased during the past months, as opposed to January. By 2.1 – 93.1, household finances improved, this being the most increased recording since dates before the start of the virus pandemic period.

Hope is the Majority Mood

Hope is the majority mood to what the following 12 months have to offer for money situations- which are 97.2 (+0.7). Some still think their money levels will lower, but some do not.

Extra Analysis into the Economy Status

Extra research into these financial and economic analysis's display that- 31% now believe the economy will expand and make progress an annum from this point, as it is already increased from 23% this past month. 69% of Britons hold a negative perspective, but again, some believe the better prospects are ahead of us.