Date: Friday 28 Sep 2012
Consultancy GfK´s consumer confidence gauge for the month of September rose by 1 point in September, to -28.
That when the consensus estimate was for a retreat to -30.
The increase in the index comes after it was unchanged for four consecutive months and could mark the start of an improvement in consumer confidence after an extended period of weakness, comment analysts at Barclays Research.
At the same time, the squeeze on household incomes appears to be easing, with real household disposable income growing by 1.9% quarter-on-quarter in the second quarter of 2012.
Nevertheless, adds Barclays, we would need to see a sustained increase in sentiment before being confident that there has been a shift in consumers’ mood. We expect the recovery in household consumption to be gradual and see continued downside risks from stronger inflation and events in the euro area.
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