Consumer confidence continues slow ascent

Consumer confidence is up for the third month in a row, according to the latest research.

The Consumer Confidence Index, produced by research group GfK NOP, found that the slow improvement it measured earlier in the year has continued, lifting the index by three points to -27, its highest score in a year.

The index was marked by improvements in sentiment towards two key areas. The personal financial outlook for the next 12 months moved from -6 in March to -3 this month, while confidence in the general economy improved markedly, from -31 to -15.

In addition, the sentiment towards making major purchases increased slightly from -23 to -22.

Rachael Joy from the team that produces the measure said that the results were positive, but pointed out that they did not take into account the reaction to the Budget, which came out after the fieldwork was done.

"Significantly, this is now the third consecutive month that we have seen a rise in the index - suggesting a definite upward trend - and it's largely driven by the public's perception that the next twelve months will be better for both our own personal finances and particularly for the economy in general," she added.

"This could be down to a combination of the simple belief that things are improving, as well as the feel-good factor of improving weather following the Easter Bank Holiday."