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Industry News

Published on April 3rd, 2018 | by The GC Team

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“Spring” brings a lift in consumer confidence

“Spring is in the air,” declared GfK’s Joe Staton as he revealed a 3-point uptick in consumer confidence during March.

GfK’s Consumer Confidence Index rose to -7, with all of the constituent measures recording higher values. 

Staton, Head of Experience Innovation UK at the research analyst, said: “Despite the Beast from the East leaving the nation shivering under a blanket of snow, stoic UK consumers turned faintly bullish this March.  

“The prospect of wage rises finally outstripping declining inflation, high levels of employment with low-level interest rates, and finally some movement on the Brexit front appear to have boosted our spirits.”

The index measuring changes in personal finances during the last 12 months increased three points; the measure for the general economic situation of the country also increased three points; the major purchase index rose by two points, and the savings index increased one point.

“It’s still a little early to be talking about green-shoots, and the core score is, of course, still negative,” said Staton, “but this is definitely a movement in the right direction. Consumers are feeling a tiny spring in their step – let’s see next month if April showers dampen the mood.”

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