29 May 2024, 16:06
By Furniture News Mar 31, 2016

Consumer confidence stalls in March

GfK’s long-running Consumer Confidence Index remained at zero in March, perhaps signalling Brexit fears. Two of the measures used to calculate it saw decreases this month, with one measure showing an increase and the remaining two staying the same.

Joe Staton, head of market dynamics at GfK, says: “Are we seeing Brexit jitters at work now? Whilst UK consumers remain resolutely upbeat about their personal financial situation, even showing a +1 point increase this month when asked about expectations for the year ahead, concerns about prospects for the general economic situation continue to dampen our mood.

"Looking at how consumers see the wider economy developing over the next 12 months, we are 18 points lower this month than in March 2015. So, despite good economic headlines about low inflation, interest rates and prices in the shops, concerns about Brexit and the ongoing Eurozone crisis appear to be hitting home.”

The Major Purchase Index decreased one point to +11, two points higher than this time last year.

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