Cabinet Office: Economy Watchers Survey up for seventh straight month in July

August 10, 2009
By Ken Worsley

Earlier today, the Cabinet Office released the results of its monthly Economy Watchers Survey, and the results showed a 0.2 point increase to 42.4 points.

The Economy Watchers survey is measured as an index with a score above 50 indicating a positive view of the economy and a score below 50 representing a pessimistic overall view. The survey measures sentiment amongst taxi drivers, restaurant staff, barbers, and other service industry workers sensitive to frontline economic conditions. The index itself has now been below the 50 mark for the past 27 months.

Although the index itself inched up in July, the future index of conditions expected two to three months from now declined for the first time in seven months, falling 0.7 points to 44.9 points.

The largest gain in sentiment was amongst service industry workers, whose score jumped 4.1 points to 44.1, while the largest fall in sentiment was at retailers, who fell 3.9 points to 40.2.

Filed Under Cabinet Office, Economic Reports, Economy Watchers