Britain in the "relegation zone"

At the end of a week which has seen some slightly better news about the British economy, the latest Ipsos Consumer Confidence Index, released today, underlines just how much ground the country has to make up.

Britain in the "relegation zone"

At the end of a week which has seen some slightly better news about the British economy, the latest Ipsos Consumer Confidence Index, released today, underlines just how much ground the country has to make up. Ipsos’ monthly 24-country survey finds just 13% of Britons saying their economy is in “good” shape, little changed from the 12% recorded last month and indeed unchanged on a year ago (also 12%). Just 9% expect things to improve over the next 6 months, unchanged on last month and again very much in line with 12 months ago (10%) Although rooted close to the foot of the international league table, the British scores are actually higher than those of three other big EU economies, namely France (where 5% say things are good), Italy (4%) and Spain (3%). This gives a combined score for this “gloomy quartet” of 25%. In contrast, 67% of Germans say their economy is in “good” shape – ie far more than the scores of Britain, France, Italy and Spain put together.

Germany’s favourable ratings place it among the five most optimistic nations in the survey:

% describing their economy as “good” 
1 Saudi Arabia  80%
 2 Sweden 70%
 3  Germany 67%
 4  India  66%
 5  China  64%
The world’s biggest economy – the United States – is now in mid-table when it comes to consumer confidence, with 31% of Americans saying it’s in good shape. This is the sixth successive month that a finding of 30% plus or minus 2 has been recorded in the US – a marked improvement on the c20% scores recorded for much of 2011/12.

 

Other headlines from the Ipsos Consumer Confidence Index: Gloom in France: the country is now officially in recession, and just 3% of French consumers expect to see an improvement over the next 6 months. Japanese recovery? 20% now describe the economy as “good”. This is the 3rd successive month where the figures for Japan have been in the 17-20% range, and these scores are now well ahead of the 8-9% levels recorded a year ago. Brazilian optimism: Brazilians’ assessment of their own economy is actually well down on last year: 42% now give it a “good” score, compared with 59% in April 2012. But they remain the most optimistic of all countries in the survey, with 68% expecting their local economy to improve over the next 6 months.

Assistant Chief Executive at Ipsos MORI, Simon Atkinson, said:

“We’re now seeing signs of sustained improvement in the US and Japan, but there’s no sign of improvement in Britain – at least not yet. For now, we remain alongside France, Spain and Italy: firmly in the relegation zone”.

Technical note

  • The survey instrument is conducted monthly in 24 countries via the Ipsos Online Panel system.
  • For the results of the survey herein, a total sample of 18,331 adults age 18-64 in the US and Canada, and age 16-64 in all other countries, was interviewed between 2-16 April 2013.
  • Approximately 1000+ individuals were surveyed in Australia, Brazil, Canada, China, France, Germany, Great Britain, India, Italy, Japan, Spain, and the United States of America.
  • Approximately 500+ individuals were surveyed in Argentina, Belgium, Hungary, Indonesia, Mexico, Poland, Russia, Saudi Arabia, South Africa, South Korea, Sweden and Turkey.
  • Sample characteristics: the sample is made up of “Primary Consumers” who are a comparable, standardized weighted group in each country based on a minimum level of education and income.
  • For a majority of the countries surveyed the Primary Consumer population is also representative of the general population based on the latest census. More details can be found at www.ipsosglobaladvisor.com
  • The precision of Ipsos online polls are calculated using a credibility interval with a poll of 1,000 accurate to +/- 3.5 percentage points and of 500 accurate to +/- 5.0 percentage points

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