Wednesday, February 28, 2007

Forex News: 28.02.2007 UK Feb consumer confidence index down 1 point to -8

Consumer confidence fell slightly in February as Britons became more pessimistic about the UK's general economic situation.

In its monthly survey, GfK said its headline consumer confidence index fell one point to -8 from -7 in January. Analysts were not expecting any change in the index.

Although three out of the five subindixes within the indicator fell, UK consumers found some comfort in the fact that the Bank of England did not raise rates in February.

The major purchases measure increased by 6 points to +4, while the “now is a good time to save” index rose one point to +35.

Views on the general economic situation of the country during the last 12 months have seen a drop of two points, down to -33. There was also a small drop in expectations for the general economic situation during the next 12 months, with the index falling by one point to -21.


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