After yesterday's positive GDP data, we have another bit of good news in the form of GFK NOP's consumer confidence index.
The consumer confidence index rose to -3 in April, up from -5 in March and – impressively – up from -27 a year ago. Consumers were particularly optimistic about the economic situation in the next twelve months.
It's not a surprise that households are a bit more optimistic, we've seen a range of positive data recently. This table compares where we are now, with where we were last year on a range of indicators that impact on households:
|Then||Now||Periods being compared|
|Employment rate||71.4%||72.6%||Dec to Feb 2013 and Dec to Feb 2014|
|Unemployment rate||7.9%||6.9%||Dec to Feb 2013 and Dec to Feb 2014|
|Manufacturing jobs||2,531,000||2,576,000||2012 Q4 and 2013 Q4|
|Whole economy pay growth ||1.1%||1.7%||Dec to Feb 2013 and Dec to Feb 2014|
|Manufacturing pay growth||1.6%||3.2%||Dec to Feb 2013 and Dec to Feb 2014|
|Inflation||2.8%||1.6%||March 2013 and March 2014|
|GDP growth||0.4%||0.8%||2013 Q1 and 2014 Q1|