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GfK: Consumer Confidence Unchanged in March

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The GfK Consumer Confidence Index remained at -13 in March. 

Joe Staton, client strategy director at GfK, said: “Consumer confidence has held steady this month at minus -13, despite political chaos and ensuing uncertainty as we try to find our rightful place within Europe.

"Against a backdrop of stable inflation and a robust labour market, where wages continue to grow more quickly than prices, confidence has remained negative but fairly stable since the referendum. However, while UK consumers report a small increase in optimism for their personal financial situation for the coming year, the index is being dragged down by our nagging fears for the general economy.

"Things might change when people feel the current crisis has passed, but what sort of resolution can consumers reasonably contemplate just now? Or are consumers rightly sensing a bumpier economic climate for post-Brexit Britain?”

Personal Financial Situation 

The index measuring changes in personal finances during the last 12 months has stayed the same this month at 0; this is three points lower than March 2018.

The forecast for personal finances over the next 12 months has increased one point to +2 this month; this is eight points lower than March 2018. 

General Economic Situation 

The measure for the general economic situation of the country during the last 12 months has stayed the same at -33 this month; this is seven points lower than March 2018.  

Expectations for the general economic situation over the next 12 months have increased two points to -36; this is 14 points lower than March 2018.   

Major Purchase Index 

The major purchase index decreased four points in March 2019 to +1; this is one point lower than March 2018.    

Savings Index 

The savings index has increased two points in March to +20; this is seven points higher than at this time last year.

Source : Insight DIY Team and GfK

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29 March 2019

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