BCI Financial Optimism Index Jan 2014

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Information about BCI Financial Optimism Index Jan 2014
Finance

Published on March 4, 2014

Author: thebps

Source: slideshare.net

Description

The BCI Financial Optimism Index is a monthly measure of peoples view of their personal financial situation. Will it get better or worse in the next few months?

BCI – Financial Optimism Index; January 2014 Consumer Confidence back ‘On Trend’. The British Consumer Index (BCI) has today (28 January 2014) released the latest Financial Optimism Index. The Financial Optimism Index measures how people think their personal financial situation will change over the next few months. In the run up to Christmas the recovery in confidence had been showing signs of stalling but the December and January figures return to a more positive trend. As ever the overall figure hides considerable differences in different sections of the population.      If you are under 50 you are more likely to be optimistic than pessimistic If you are male you are more likely to be optimistic than if you are female The 40 to 49 age range has the most pessimists Those who are the Chief Income Earner for the family are less optimistic Those who are not the main shopper for the household are more optimistic The chart below illustrates the differing levels of confidence and the trends for different age groups. In general the level of optimism correlates with age with the younger age groups being the most optimistic. © DataTalk Research Ltd January 2014 Page 1

The under 25 age group are also the most volatile with the 25 to 44 group being the most stable. Interestingly the over 65s started to gain confidence earlier than other age groups although they do remain negative. In overall terms the under 45s are more optimistic than the population as a whole and the over 45s less optimistic. Commenting on the findings Steve Abbott, Director; British Consumer Index said: “Financial Optimism or ‘Mood’ is a prime driver of many decisions. Peoples’ attitudes and behaviors can be significantly impacted by their feeling of financial wellbeing or otherwise. In many cases it is the prime determining factor particularly regarding spending plans. Interestingly it is the people who are the main income earner and the main shopper for the household who are least optimistic. Businesses are spending more and more time and money looking at what is generally referred to as ‘BIG DATA’ which is predominantly historic on line behavior. Past behaviors can and do change depending on a person’s view of their Financial Prospects. Adding this data provides the ‘sentiment’ overlay vital to business and marketing decision making.” For more details contact; Steve Abbott; E- stevea@thebps.co.uk T- 0203 286 1981 Notes: Figures are collected by The British Population Survey by face to face in home interviews with a population representative sample of 1,000 adults aged 15+ per month (total sample size = 49,916). Index values range between 100 (fully positive) and 100 (fully negative). Fully analysable data is available from http://www.bcindex.co.uk/#/financial-optimism/4573199275 © DataTalk Research Ltd January 2014 Page 2

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