The consumer confidence Index increased three points in August

The consumer confidence Index increased three points in August

UK consumer confidence bounced back in August from a six-month low in the prior month, according to new figures.

The GfK UK Consumer Confidence Index increased three points last month to 1, with all five measures used to calculate the Index Score seeing increases. 

But the score for the two questions concerning the last 12 months rose by more than the two concerning the next 12 months, suggesting "people are reassessing the past more than feeling more hopeful about the future".

The overall rise comes after the Index dropped for the first time in six months in July.

"It looks as if we might be in a new period of relative stability for the Index," said Nick Moon, managing director of social research at GfK.

He noted that the last five months have seen the Index within a range of -1 (plus or minus 2).

"There is no guarantee how long this stable position will last - a rush of good or bad economic news could set off a marked rise or fall, but things could stay like this for a while," Moon added.