The nations financial outlook has improved, new figures have revealed.
Brits opinions with regards to their financial situation and that of the wide economy over the past month are in a slightly healthier position in comparison to October, stated by GfK NOPs consumer confidence index. November's index was shown to stand at 35, a rise of one point from the -36 noted in previous month's research. However, 20 points below that recorded in November 2007.
Regardless, GfK NOP reveals that the latest month-on-month improvement was driven by an increase across all five of the indices that make up the Consumer Confidence Index. In particular, a rise in confidence was noted in peoples outlook on their personal finance situation for the year ahead, which rose two points from October to stand at -10. However, this figure is some 19 below that seen last November.
Over the last 12 months, consumers opinions on their personal finance has improved by a point to -17, the same increase also reported for views on the state of the general economy. Such an index now at -71. Also, there has been a rise in optimism over Britain's general economic standing over the course of next year. This has risen one point since last month to -36 and now 25 below last November.
In addition, consumers believe now is the time to buy a major purchase, shown in the index which increased by four points to -39.
If looking for an effective way to finance a purchase, maybe a house or a car, then choosing a personal loan could be the solution.
However, with all of the indices still representing minus figures, it could be apparent that many Britons hold concerns about their ability to manage their money over the coming months. As such, it could be possible that people are worried about keeping on top of spending commitments in areas such as personal loans, credit cards, utility bills and mortgage repayments.
Rachael Joy, of GfK NOPs consumer confidence team, said: "The Consumer Confidence Index has improved marginally this month, but continues to languish at near record lows. UK consumers are still being battered by news about our poor economy in general and mounting concerns about job losses in particular. The dramatic cut in interest rates this month appears to have done little to improve sentiment so far, as UK consumers continue to fret over the impact of a looming recession. Consumers are treading water and waiting for the economy to stabilise after what has been a turbulent few months."
It was also revelaled that fewer people think now is an ideal time to save. Although this index remains at a positive figure, at +4, it is a fall of five and 31 points from last month and November 2007 respectively.
A consumer confidence study by Nationwide revealed earlier this month the nation's financial optimism rose from 51 to 55 over the course of October. However, for those concerned about managing their money in the months ahead might want to consider taking out a loan. In doing so, borrowers may find that they can meet various spending commitments quickly and affordably.
Brits opinions with regards to their financial situation and that of the wide economy over the past month are in a slightly healthier position in comparison to October, stated by GfK NOPs consumer confidence index. November's index was shown to stand at 35, a rise of one point from the -36 noted in previous month's research. However, 20 points below that recorded in November 2007.
Regardless, GfK NOP reveals that the latest month-on-month improvement was driven by an increase across all five of the indices that make up the Consumer Confidence Index. In particular, a rise in confidence was noted in peoples outlook on their personal finance situation for the year ahead, which rose two points from October to stand at -10. However, this figure is some 19 below that seen last November.
Over the last 12 months, consumers opinions on their personal finance has improved by a point to -17, the same increase also reported for views on the state of the general economy. Such an index now at -71. Also, there has been a rise in optimism over Britain's general economic standing over the course of next year. This has risen one point since last month to -36 and now 25 below last November.
In addition, consumers believe now is the time to buy a major purchase, shown in the index which increased by four points to -39.
If looking for an effective way to finance a purchase, maybe a house or a car, then choosing a personal loan could be the solution.
However, with all of the indices still representing minus figures, it could be apparent that many Britons hold concerns about their ability to manage their money over the coming months. As such, it could be possible that people are worried about keeping on top of spending commitments in areas such as personal loans, credit cards, utility bills and mortgage repayments.
Rachael Joy, of GfK NOPs consumer confidence team, said: "The Consumer Confidence Index has improved marginally this month, but continues to languish at near record lows. UK consumers are still being battered by news about our poor economy in general and mounting concerns about job losses in particular. The dramatic cut in interest rates this month appears to have done little to improve sentiment so far, as UK consumers continue to fret over the impact of a looming recession. Consumers are treading water and waiting for the economy to stabilise after what has been a turbulent few months."
It was also revelaled that fewer people think now is an ideal time to save. Although this index remains at a positive figure, at +4, it is a fall of five and 31 points from last month and November 2007 respectively.
A consumer confidence study by Nationwide revealed earlier this month the nation's financial optimism rose from 51 to 55 over the course of October. However, for those concerned about managing their money in the months ahead might want to consider taking out a loan. In doing so, borrowers may find that they can meet various spending commitments quickly and affordably.
About the Author:
Mark Dawson writes for Loan-Arrangers where visitors can compare UK loans online. Then apply for one of our cheap loans or bad credit personal loans.
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