Consumer confidence has jumped year on year from -41 to -23 points according to the latest set of results from Consumer Eye, News International Commercial’s consumer survey.

Figures from October-December 2009 show an 18 point increase since the same period last year in the first set of year on year data since the study launched in 2008. 

The data shows that consumer confidence has remained largely stable since the dramatic 10 point rise to -22 in the previous quarter (July-September). Furthermore, for the majority of consumers (64%), the outlook for the next three months remains the same.

The survey revealed that while both genders display stable confidence scores quarter on quarter, there is a marked year on year increase with men up by 20 points and females up 16 points since December 2008.

Of people’s everyday concerns, confidence in job security sees its first dip in 12 months but is still better than it was a year ago (-13 points compared to -19 points last December). Utility bills show a seasonal decline, displaying similar levels to last winter (-61 points compared to -66 points in December 2008), while grocery costs are relatively stable (-38 points compared to -43 points year on year).

Fuel prices however display a fourth consecutive drop and are the only metric where confidence is lower than it was this time last year (-74 points against -33 last year).

In terms of financial indicators, savings, mortgage, house value and credit cards debts –all demonstrate an improvement on last December’s figures with rises of 5%, 3%, 38% and 7% respectively.

The latest study also features a spotlight on personal finance, highlighting that consumers have become more aware of their own financial situation and the state of the economy, and more wary of previously inscrutable institutions. Reducing spending is the priority for 40%, while for 25% it’s reducing debt, and for 16% it’s saving.

Caution is the key for many as 53% cite the top reason for saving is ‘peace of mind’. Holidays were the second highest answer at 48% while saving for ‘retirement’ and ‘in case the economic situation worsens’ were also among the more popular responses (both at 35%).

When asked to compare levels of trust in various institutions against this time last year 64% of consumers stated that they now trust the financial sector less, 56% now also trust the government less.  Despite this, high street banks are still the go-to destination for most financial products and services.

Consumer Eye is a quarterly survey of over 3,000 readers provides an insight into consumer confidence, views on the economic outlook and current and future purchase intentions.

The research is aimed at providing News International and its customers with valuable insights that could help to develop advertiser’s communication approach to consumers. The size and frequency of Consumer Eye will provide one of the most comprehensive and up to date consumer surveys available to marketers.

Claire Myerscough, Business Intelligence Director News International said: “The Consumer Eye survey provides our customers with vital up-to-date information on consumer spending habits. With our focus on personal finance this quarter, our clients can better understand which factors are influencing decisions – invaluable for planning campaigns.”