According to the latest GfK long-term Consumer Confidence Index, all signs point to a slow but noticeable recovery in the economic situation of U.K. consumers. All indicators surged in March, with the overall index score rising by a robust seven points to -16.
The measure of personal finances over the next 12 months now stands at +10, the first time it has been this high in three years. Market researchers note a slight but noticeable optimism among consumers here, which is also likely to have an impact on their spending behavior.
The Major Purchase Index also rose significantly in March, by eight points to -11. Although this is still nine points lower than in the same month last year, it is a significant jump up from the -24 recorded in January and the -19 in February.
The GfK measure of economic prospects over the next 12 months rose 13 points to -17, a strong result following the equally strong 14-point increase in February.
This month’s U.K. Consumer Confidence Barometer was conducted among a sample of 2,000 people aged 16 and over.