GfK’s Consumer Confidence Index increased seven points to -16 in March. All five measures increased in comparison to the February 19th announcement, with The Major Purchase Index increasing by eight points to -11 (still down nine points YoY).
Joe Staton, GfK’s client strategy director, says: “Spring is in the air on the back of well-received Budget announcements, the successful vaccine roll-out and roadmaps in place for ending lockdown. All measures jumped in March with the Overall Index Score up a robust seven points to -16. This marks an improvement each month into 2021.
"The scores looking ahead one year are recovering especially well. The personal finance measure for the next 12 months is now at +10, the first time in three years it has been this high. Our measure on economic prospects for the next 12 months is up by 13 points to -17, a strong result following February’s equally strong 14-point boost. If this improved mood translates into spending, it might help reverse some of the economic damage the UK has suffered. And the eight-point fillip in our major purchase measure to -11 suggests this may well happen. It’s highly likely this upward trajectory on all measures will build over the next six months and beyond.”