The ‘UK Consumer Confidence Index’ hit 97 in Q1 2015. The last time it was higher was in Q1 2006 well before the financial crisis, when it registered 101.
A score above 100 indicates degrees of optimism, below 100 degrees of pessimism.
Nielsen said the UK Index is now no lower than the Global Index, also at 97 in Q1 2015, the first time in seven and a half years this has happened.
The score is derived from Nielsen’s Global Survey of Consumer Confidence and Spending Intentions.
The survey has been measuring consumer attitudes to topics including job prospects and personal finances each quarter since 2005. The sample comprises 30,000 internet consumers in 60 countries.
Other notable findings from the latest survey include 45% feeling positive about their job prospects, the highest since Q3 2007, 45% said now is a good time to make purchases the highest level since Q3, 2006, and 50% said they feel positive about their personal finances the highest since Q3 2007.
“Consumer confidence in the UK continues to rise. The UK is one of the fastest growing major economies, unemployment is falling and people are benefiting from zero inflation and lower prices in supermarkets and petrol stations,” said Nielsen UK managing director Steve Smith.
“Whilst the majority of people are still cost-cutting – perhaps habitually now – wages, for others, are rising faster than household expenses,” Smith added. “This is leading to more optimism about their future spending, so we expect to see confidence continue to rise in 2015.”
