A closely watched poll of consumer confidence in the UK suggests the recovery in January and February may be more fragile than first hoped.
Gfk's consumer confidence index dropped from -29 in February to -31 in March, expectations had been for a slight improvement to -28.
Commenting on the results, Gfk's head of social research, Nick Moon said: "These figures make depressing reading for the government, especially when you consider that the index has been mired within a couple of points of the present levels for the last nine months.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The index shows that consumers are becoming increasingly pessimistic about their personal economic circumstances over the next twelve months, a worrying sign for the already hard-pressed retail sector. "
The Gfk survey is funded by the Europe Union, with similar surveys taking place across the EU. Interviews with 1,998 people were carried out between March 2nd and 11th.
BS
-
Which UK region has the most in savings? Average savings by areaThe amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted foundersHelped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market
