Consumer confidence was unchanged at -21 in March, following the two-point dip in February, new data reveals.
GfK’s long-running Consumer Confidence Index shows three measures of confidence increased and two were down in comparison to February’s announcement.
Joe Staton, Client Strategy Director at GfK, said: “Look back to last year and it’s clear the improvements in consumer confidence seen most months since January 2023 have vanished. Moreover, this month the Major Purchase Index has dropped two points, the view of the wider economy over the past year is down, and the Savings Index has dived four points.
“Are we temporarily on pause, or are consumers about to press ‘reverse’? In the run-up to the next UK General Election, these are important questions for the future health of the economy.”
This month’s survey was conducted among a sample of 2,007 individuals aged 16-years-old and over in the UK.
