Table of Contents
Key Findings
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- Improvements at the household level leave consumers cautiously optimistic
- The Capital continues to be predominantly responsible for consumer spend
- Key economic indicators
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- Figure 1: Key economic indicators, March 2015
Current Financial Situation
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- Economic expectations provide focus for the election campaign
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- Figure 2: “How would you generally describe your financial situation at the moment?”, March 2015
- Caution limits levels of improvement in consumer sentiment
- Economic factors have different effects on different households and this affects average consumer sentiment
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- Figure 3: Financial wellbeing index, 2009-15
- Lagging economic recovery in Wales dampens consumer wellbeing
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- Figure 4: “How would you generally describe your financial situation at the moment?”, by region, March 2015
Changes in Financial Wellbeing
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- 26% feel they are better off than a year ago
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- Figure 5: “How would you describe your finances compared to a year ago?”, March 2015
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- Figure 6: The recovery index, 2011-15
- The influence of house prices
- Sentiment is rising more strongly in the Midlands
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- Figure 7: “How would you describe your finances compared to a year ago?”, March 2015
Financial Confidence
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- Majority of consumers are cautiously optimistic…
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- Figure 8: “And how do you feel about your financial situation over the next year or so?”, March 2015
- …as conditions improve but uncertainty prevails
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- Figure 9: Financial confidence index, 2009-15
- London commuter effect boosts confidence of surrounding regions
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- Figure 10: “And how do you feel about your financial situation over the next year or so?”, by region, March 2015
Spending Plans
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- Easing of the income squeeze boosts spending….
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- Figure 11: “Thinking about how you spend your money, which of the following have you done over the last three months? And which do you plan to do over the next three months?”, March 2015
- ….but election concerns dampen future spending intentions
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- Figure 12: Spending index, 2012-15
- Londoners most likely to continue spending in the run-up to the election
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- Figure 13: Spending plans, by region, March 2015
What It Means
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- Election related uncertainty delaying the return to confidence
- Consumers relax in the presence of a safety net
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