Small boost for fragile consumer morale

Fragile consumer sentiment on the prospects for the economy over the next year received a small lift last month, research has shown.

However, morale remains in the doldrums, the Consumer Confidence Index for the first half of February showed.

The period was marked by a continued onslaught of bad news coming from the banks, few indications of improvements in the housing market and a growing toll of job losses.

According to from market research company GfK NOP which produces the index, confidence in the ‘general economic situation over the next 12 months’ rose eight points to -40, while confidence in the ‘personal household finances over the next 12 months’ increased six points to -8.  Both remain well below levels seen this time last year.