UK consumer confidence rose in March as two measures were up during the month.

According to the latest GfK Consumer Confidence Index, overall figures increased by one point to -19 in March. Two measures were up, two were down and one was unchanged in comparison to last month’s announcement.

The Major Purchase Index, which includes big ticket items such as furniture, is unchanged at -17; this is ten points better than this month last year.

The measure for the general economic situation of the country during the last 12 months is up two points to -42; this is three points better than in March 2024.

The index measuring changes in personal finances during the last year is down two points at -9; this is four points better than March 2024.

The Savings Index has tumbled five points to +25 in March; this is the same as this time last year.

Neil Bellamy, Consumer Insights Director, NIQ GfK, says: “Consumer confidence remains subdued with a headline score of -19 for March. Views on personal finances for the past year are slightly down from -7 to -9, while perceptions of the wider economy over the last 12 months and looking ahead a year are each up two points at -42 and -29 respectively. But this is only a marginal improvement.

“Since September last year, the headline has been in a range of -17 to -22. This is more positive than mid-2022 into early 2023 at the height of the cost-of-living crisis, which delivered the worst headline scores ever including nine months at -40 or worse. But we are still below the long-term average of -10.

“If consumer confidence were a patient languishing in a hospital bed, a doctor would say there is little evidence of a recovery as yet. Where do we go from here? The current stability is to be welcomed but it won’t take much to upset the fragile consumer mood.”