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Financial News: UK Consumer Confidence Improves In March

UK Consumer Confidence Improves In March

03/29/2018 - 00:30:00 (RTTNews)

(RTTNews) - UK consumer sentiment strengthened to the highest level in ten months in March, survey data from GfK showed Thursday.

The consumer confidence index rose to -7 in March from -10 in February. This was the highest score since May, when the reading was -5.

All five of the measures increased in March. The index measuring changes in past personal finances rose 3 points to +3. Likewise, the forecast for personal finances in the next twelve months gained 5 points to +10.

The measure for the general economic situation for the last one year gained 3 points to -26. Similarly, expectations for the general economic conditions over the next 12 months increased four points to -22.

The major purchase index climbed 2 points to +2. Similarly, the savings index edged up one point to +13 in March.

"It's still a little early to be talking about green-shoots, and the core score is of course still negative, but this is definitely a movement in the right direction," Joe Staton, Head of Experience Innovation UK at GfK.

"Consumers are feeling a tiny spring in their step - let's see next month if April showers dampen the mood."

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