GfK: Consumer Confidence Increased By One Point In March

• Marginal improvements in perceptions of UK economy but confidence is still fragile

GfK’s long-running Consumer Confidence Index increased by one point to -19 in March. Two measures were up, two were down and one was unchanged in comparison to last month’s announcement.

Neil Bellamy, Consumer Insights Director, NIQ GfK, says:

“Consumer confidence remains subdued with a headline score of -19 for March. Views on personal finances for the past year are slightly down from -7 to -9, while perceptions of the wider economy over the last 12 months and looking ahead a year are each up two points at -42 and -29 respectively. But this is only a marginal improvement. Since September last year, the headline has been in a range of -17 to -22. This is more positive than mid-2022 into early 2023 at the height of the cost-of-living crisis, which delivered the worst headline scores ever including nine months at -40 or worse. But we are still below the long-term average of -10. If consumer confidence were a patient languishing in a hospital bed, a doctor would say there is little evidence of a recovery as yet. Where do we go from here? The current stability is to be welcomed but it won’t take much to upset the fragile consumer mood.”

UK Consumer Confidence Measures – March 2025

The Overall Index Score increased by one point to -19 in March. Two measures were up, two were down and one was unchanged in comparison to last month’s announcement.

Personal Financial Situation

The index measuring changes in personal finances during the last year is down two points at -9; this is four points better than March 2024.

The forecast for personal finances over the next 12 months is down one point at +1, which is one point worse than this time last year.

General Economic Situation

The measure for the general economic situation of the country during the last 12 months is up two points to -42; this is three points better than in March 2024.  

Expectations for the general economic situation over the next 12 months have improved two points to -29; but this is six points worse than March 2024.

Major Purchase Index

The Major Purchase Index is unchanged at -17; this is ten points better than this month last year.

Savings Index

The Savings Index has tumbled five points to +25 in March; this is the same as this time last year.

Source : GfK, an NIQ company

Image : MichelleMitha / iStock / 152128121

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