Primary Consumer Sentiment Index up for first time since June

According to the latest figures from the Thomson Reuters/ Ipsos Primary Consumer Sentiment Index (PCSI) consumer confidence appears to have rebounded after a two month decline. September figures show the PCSI up 1.4 points from August standing at 53.6.

Looking further into the sub-indices that make up the PCSI the growth seen in consumer confidence is strongly driven by perceptions of the current economic climate (up 2.4 points from August). More modest gains are seen in perceptions of the current investment climate, a measure of how confident people feel in their ability to invest or save for the future (up 1.5 points), perceptions of job security (up 1.4 points) and future economic expectations (up 1.2 points). The data show that the growing economic scepticism seen through the summer may have eased off as events such as the Greek Euro crisis became less prevalent in the media.

Bobby Duffy, managing director of the Ipsos Social Research Institute, said:

“This summer saw a number of events that may have made Britons feel uncertain about both the global and British markets. As the Eurozone and Chinese stock market crises appear less frequently in the headlines the British public may be becoming more confident in the current and future economic climates.”

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