GfK: Consumer Confidence Drops in March

GfK’s long-running Consumer Confidence Index was down two points to -21 in March. 

Three measures were down, one was up and one was flat, compared to last month’s announcement. These are the current findings of the GfK Consumer Confidence Barometer (CCB) powered by NIM. The CCB has been published jointly by GfK and the Nuremberg Institute for Market Decisions (NIM), the founder of GfK, since October 2023.  

Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, says: “A ripple of fear is spreading as is evident from the six-point fall in perceptions of the General Economic Situation over the next 12 months, and also in the four-point drop in the Major Purchase Index. People simply do not feel the economy is robust enough to ride out the knock-on effects from the Middle East conflict. Moreover, the decline in purchasing intentions, coupled with a six-point rise in the Savings Index, indicates people are holding on to their money and avoiding making major purchases while they wait to see what the medium-term impact of the conflict will be. There are two major concerns for the future. First, the UK will need to adopt a careful and balanced response to the wider volatility we have seen since the end of February. Second, with growing concerns over further sharp price rises in the coming months, unless there’s a swift resolution to the conflict, or government schemes such as additional support with energy bills come into fruition, this ripple of fear we are seeing in the March data has the danger of turning into a flood.” 

GfK Consumer Confidence Barometer powered by NIM — UK Measures – March 2026 

The Overall Index Score dropped by two points to -21 in March. Three measures were down, one was up and one was flat, compared to last month’s announcement.  

Personal Financial Situation  

The index measuring changes in personal finances over the last 12 months is unchanged at -7. This is two points better than March 2025.  

The forecast for personal finances over the next year is down one point to 1. This is the same score as last year. 

General Economic Situation  

The measure for the country’s general economic situation over the last 12 months increased by one point to -43. This is one point less than a year ago.  

Expectations for the general economic situation over the next 12 months have slumped six points to -37. This is eight points worse than March last year. 

Major Purchase Index  

The Major Purchase Index decreased by four points to -18, which is one point worse than March last year.  

Savings Index 

The Savings Index increased six points to 27; this is two points better than last year. This measure is commented on but not included in the Overall Index Score. 

Source : GfK Consumer Confidence Barometer (CCB), powered by NIM

Image : sergeyryzhov / iStock / 517010420

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.