Record rise in consumer confidence
Heywoods has hailed the latest results of GfK NOP's Consumer Confidence Index as nothing short of miraculous.
The index, which is the most respected barometer of the mood of UK consumers, has seen a record monthly rise of nine points, bringing it back to a level not seen since January 2008. Consumers' confidence in the general economy also rose sharply by 13 points to a score of +4, which is a level not seen since May 1998.
The major purchase index is especially pleasing for Heywoods as it has risen eleven points to -15 which is a huge jump and very encouraging as it shows there has been a massive boost of confidence for homeowners thinking of making significant decisions about their homes.
Nick Moon, MD of GfK NOP Social Research said: "Having been static since June, the GfK NOP Consumer Confidence Index jumped nine points to -16 this month, one of its biggest ever monthly changes. It is still clearly negative, so the government shouldn't get too carried away, but the new figure is the best the index has been since January 2008.
"Looking at the individual elements of the index, every one of them improved this month, making the idea of this jump being a statistical blip slightly less likely. Psychologically important is the fact that confidence in people's own personal finances for the next 12 months and confidence in the general economy over the next twelve months both moved into positive territory, after being in the red for well over a year."