Confidence is creeping back

CONSUMER confidence is growing.

August’s Consumer Confidence Index (ICC) of 68.6 (out of a possible 100) was 5.3 points higher than July’s, according to the official Centre for Sociological Investigation (CIS).

The increase was attributed to a more favourable view of the current situation, which at 53.4 was six points higher than in July.

Future prospects, awarded 83.7 points, were 4.5 points better than in July although optimism regarding the economy and employment does not consistently extend to family finances.

The ICC is still well below the 100 points that denote a favourable and optimistic outlook, said the CIS.

Twenty-three per cent of those questioned had to borrow or dip into savings to get to the end of the month.  A further 43.7 per cent “just managed” to make their money go round each month, they said.

Forty-four per cent of families whose finances are worse than six months ago blamed inflation. A further 21.44 per cent ascribed their lack of cash to being out of work or on the verge of losing their jobs, and 31 per cent to reduced earnings.