In GfK NOPs latest consumer confidence index, Britons opinions with regards to their own financial situation and that of the wider economy over the past month are in a slightly healthier position in comparison to October. For November, the index was shown to stand at -35, a figure which indicates a rise of one point from the -36 noted in the preceding months research. However, such a score is 20 points below that recorded in November 2007.

Regardless, GfK NOP reveals that the latest month-on-month improvement was driven by an increase across all five of the indices that make up the Consumer Confidence Index. In particular, a rise in confidence was noted in peoples outlook on their personal finance situation for the year ahead, which rose two points from October to stand at -10. However, this figure is some 19 below that seen last November.

Meanwhile, consumer opinions on their personal finance situation over the last 12 months has improved by a point to -17, with the same increase also noted for views on the state of the general economy. Such an index is now at -71. Going forward, there has also been a rise in optimism about Britains general economic standing over the course of the next year. The index tracking this has risen by one point since last month to -36 and is now 25 below last November.

In addition, it was shown that the index measuring whether consumers believe now is a good time to make a major purchase has increased by four points to -39.

For those looking for an effective way to fund such a purchase - which could include a car or house - taking out a personal loan may be effective.

However, with all of the indices still representing minus figures, it could be apparent that many Britons hold concerns about their ability to manage their money over the coming months. As such, it could be possible that people are worried about keeping on top of spending commitments in areas such as personal loans, credit cards, utility bills and mortgage repayments.

Rachael Joy, of GfK NOPs consumer confidence team, said: "The Consumer Confidence Index has improved marginally this month, but continues to languish at near record lows. UK consumers are still being battered by news about our poor economy in general and mounting concerns about job losses in particular. The dramatic cut in interest rates this month appears to have done little to improve sentiment so far, as UK consumers continue to fret over the impact of a looming recession. Consumers are treading water and waiting for the economy to stabilise after what has been a turbulent few months."

Findings from GfK NOP also revealed that fewer people think now is an ideal time to save. Although this index remains at a positive figure, at +4, it is a fall of five and 31 points from last month and November 2007 respectively.

With the countrys financial outlook still largely negative, those concerned about managing their money in the months ahead might want to consider taking out a loan. In doing so, borrowers may find that they can meet various spending commitments quickly and affordably. Meanwhile, in its own consumer confidence study Nationwide revealed earlier this month the nations financial optimism rose from 51 to 55 over the course of October.

Mark Dawson writes for the the Loan Arrangers where you can compare loans and apply online for cheap secured loans. Visit Today: http://news.loan-arrangers.co.uk

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