Consumer confidence in March highest since 2007
UK consumer confidence in March climbed to its highest level since August 2007 according to figures released by GfK in its latest Consumer Confidence Barometer.
The research firm’s headline index rose by 2 points to -5 after all five measures used to calculate the index score saw increases this month.
Nick Moon, managing director of social research at GfK, said: “With a monthly series like the CCB, the longer-term trends often tell us much more than the changes in any individual month, and the current long-term trend is very strongly positive. Over the last year the overall index has risen by a massive 22 points – the biggest single-year rise since Nov 08-Oct 09, and there hasn’t been a bigger one-year rise since July 77- June 78.”
While the measure for consumers’ personal financial situation over the next 12 months rose by one point to 5 in March, the measure for the general economic situation of the country over the next 12 months increased by two points to 4.
Never Miss a Retail Update!In further good news, the climate for major purchases index rose four points to -7 which is 16 points higher than this time last year.
Moon added: “People are now on balance more positive than negative about their own financial prospects over the next year, and it is unlikely that anything announced in the recent Budget will reverse this.”
