Consumers are feeling confident!

31 March 2015

A consumer, this morning
A consumer, this morning

Are you feeling confident? Do you have more purpose in your stride and feel like you could shove a mountain over? Well, it isn't surprising seeing as consumer confidence in the UK is at its highest level for nearly 13 years, according to the stat crunchers at GfK.

Look at you spending money on onions and socks like you're Rick James!

Gfk's Consumer Confidence Index rose three points to +4 in March, and over the last three months, there's been an eight point rise. Good eh? There's been a nine point increase from March 2014. That's livin' alright.

All five of Gfk's index's key indicators saw monthly and yearly increases this month, with confidence over the general economic situation over the last 12 months being the strongest climber up the charts. It is now at +1 when, last year, it was at -15!

Sounds like we're all getting our swagger back too, as the survey showed that consumers are more confident about the economy in the coming year, as well as getting rather cocky about our collective personal financial situation for the coming 12 months. Basically, that means people are starting to look at spending money on bigger purchases like sofas or new TVs.

Nick Moon, Managing Director of Social Research at GfK, says: "Reaction to the budget has thus far been muted, but if people warm to it over the next few weeks then we may well see a further increase in the Index next month. A consistently rising Index in the run-up to the election is likely to be good news for the government."

TOPICS:   Banking   Consumer Advice   Supermarket

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment