Consumer confidence: another indicator moving in the right direction

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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:

Indicator

ThenNowPeriods being compared
Employment rate71.4%72.6%Dec to Feb 2013 and Dec to Feb 2014
Unemployment rate7.9%6.9%Dec to Feb 2013 and Dec to Feb 2014
Manufacturing jobs2,531,0002,576,0002012 Q4 and 2013 Q4
Whole economy pay growth 1.1%1.7%Dec to Feb 2013 and Dec to Feb 2014
Manufacturing pay growth1.6%3.2%Dec to Feb 2013 and Dec to Feb 2014
Inflation2.8%1.6%March 2013 and March 2014
GDP growth0.4%0.8%2013 Q1 and 2014 Q1

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