Marginal improvement in consumer confidence in March

There was a marginal improvement in consumer confidence in March, amid a “fragile” outlook for the year ahead, figures show.

GfK’s long-running Consumer Confidence Index increased by one point to minus 19, with expectations for the general economic situation over the next 12 months improving by two points to minus 29 – six points lower than a year ago.

Expectations for personal finances over the next 12 months fell by one point to positive one, while the major purchase index, a measure of confidence in buying big ticket items, remained unchanged at minus 17, 10 points better than last March.

Neil Bellamy, consumer insights director at NIQ GfK, said: “Consumer confidence remains subdued with a headline score of minus 19 for March.

“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.”