- Overall confidence at its strongest level since March
- House price metrics see moderate improvement
- But household finance scores fall again
UK consumer confidence has improved to its highest level in six months, data from YouGov and the Centre for Economics and Business Research shows.
The latest analysis finds that the YouGov/Cebr Consumer Confidence Index stands at 108.6 this month – up from 107.8 in August. Any score over 100 means more consumers are confident than unconfident and this month’s score is the highest measured since March.
YouGov collects consumer confidence data every day, conducting over 6,000 interviews a month. Respondents are asked about household finances, property prices, job security and business activity, both over the past 30 days and looking ahead to the next 12 months.
Four measures improved in September, while four declined. The backward and forward -looking house price metrics saw the biggest increase over the past month, though it should be noted that both measures are still below the level they were at before the general election. Both business activity scores also rose in September.
The data also shows that both household finance metrics have fallen in September, with the measure looking back over the past 30 days declining for the sixth month in a row, something that has not previously happened since YouGov began collecting data on this in 2009. Meanwhile, both the backward and forward-looking job security scores have also fallen.
Stephen Harmston, Head of YouGov Reports: “Since the election, consumer confidence has been relatively subdued but over the past month it has risen greatly and now stands at its highest level since March. But despite the notable improvement this month, consumer confidence is still below where it was ahead of the EU referendum.”
Nina Skero, Head of Macroeconomics at the Centre for Economics and Business Research: “Despite various of sources uncertainty both politically and economically, consumer confidence in the UK is proving to be remarkably resilient. While household budgets continue to feel the squeeze from inflation, other measures have rebounded somewhat meaning that consumers are more confident than they have been at any time in the past six months.”
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Notes to editors:
Please source all information to YouGov/Cebr.
Media enquiries:
Andrew Farmer, PR Director, YouGov
T: 020 7012 6157
Douglas McWilliams, Deputy Chairman, Cebr
T: 07710 083 652
About the YouGov/Cebr Consumer Confidence Index:
- The YouGov/Cebr Consumer Confidence Index collects data on a daily basis throughout the month, conducting up to 7,000 interviews per month and more than 77,000 per year online with people aged 18+.
- The sample is nationally representative and the YouGov/Cebr Consumer Confidence Index has a margin of error of +/-1.5%. The data is not seasonally adjusted.
- Current month’s data in the press release is provisional and based on 21 days’ worth of data. End of month scores may differ from the provisional figure.
- For further information about the YouGov/Cebr Consumer Confidence report please visit: http://research.yougov.co.uk/services/household-economic-activity-tracker/
The YouGov/Cebr Consumer Confidence Index is based on eight measures:
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Job security over the past month
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Based on the question: “Compared to one month ago, how secure do you think your job is?”
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Job security over the next year |
Based on the question: “How likely do you think it is that you will be laid off or let go from your job in the next 12 months?” |
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Business activity at your place of work over the past month
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Based on the question: “Compared to one month ago, how has the level of business activity at your place of work changed?”
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Business activity at your place of work over the next year
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Based on the question: “How do you think the level of business activity at your place of work will have changed 12 months from now?”
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House value over the past month |
Based on the question: “Compared to one month ago, how do you think the value of the property/dwelling in which you live has changed?”
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House value over the next year |
Based on the question: “Expected change in value of current dwelling, 12 months from now (among homeowners ONLY)”
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Household finances over the past month |
Based on the question: “Compared to one month ago, how has your household’s financial situation changed?”
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Household finances over the next year |
Based on the question: “How do you think your household’s financial situation will have changed 12 months from now?”
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About YouGov:
YouGov is an international, full-service market research agency and is the pioneer of market research through online methods. Our suite of syndicated, proprietary data products includes: BrandIndex, the daily brand perception tracker; Profiles, our new tool for media planning, market segmentation and forecasting; and Reports which provide comprehensive market intelligence on a range of sectors. The market-leading YouGov Omnibus provides a fast and cost- effective service for obtaining answers to research questions from both national and selected samples. Our custom research business conducts a wide range of quantitative and qualitative research, tailored to our specialist teams to meet our clients’ specific requirements.
YouGov has a panel of 3 million people worldwide, including over 600,000 people in the UK representing all ages, socio-economic groups and other demographic types.
As the most quoted market research agency in the UK, YouGov has a well-documented and published track record illustrating the accuracy of its survey methods.
For further information visit yougov.co.uk
About the Centre for Economics and Business Research:
Cebr – the Centre for Economics and Business Research – is a leading economics consultancy, founded in 1993 by Douglas McWilliams. Cebr has wide ranging experience and expertise on subjects from micro-economic impact studies to macro-economic forecasting across the UK, the Eurozone and global economy.
For more information and the latest reports from Cebr, please visit www.cebr.com