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Home arrow Market Research Findings arrow Economic Climate and Consumer Confidence arrow March Sees UKs Consumer Confidence Fall Two Points
March Sees UKs Consumer Confidence Fall Two Points PDF Print E-mail
Written by GfK   
30 Mar 2012
GfK’s UK Consumer Confidence Index has dropped two points this month to -31.

UK Consumer Confidence Measures – March 2012 The overall index score this month has decreased two points to -31, three points lower than March 2011. Four of the five measures saw decreases this month, with the remaining measures increasing. The annual moving average stays the same at -29.

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Nick Moon, Managing Director of Social Research in GfK, comments:
“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 position for the last nine months. Consumer confidence has returned to the weak levels of the second half of 2011, emphasising just how fragile the improvement in January and February was. “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. With this month’s budget unlikely to have a positive impact on consumer spending, shops will be hoping that the bumper summer of the Diamond Jubilee weekend and the Olympics can bounce people from their present malaise.”

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Personal Financial Situation
The index measuring changes in personal finances during the last twelve months has decreased this month to -25; this is six points lower than this time last year. The forecast for personal finances over the next twelve months has decreased four points to -10; this is the same level as March 2011.
General Economic Situation

The measure for the general economic situation of the country during the last twelve months has increased one point this month to -59; five points lower than this time last year.

An expectation for the general economic situation over the next twelve months has decreased by one point to -30, one point lower than March ‘11.

Savings Index
The ‘now is a good time to save’ Index, has increased one point to -13, which is nine points lower than March ’11.

Climate for Major Purchases
The major purchases measure has decreased four points this month to -31; which is two points lower than this time last year.

Savings Index
The ‘now is a good time to save’ Index, has increased one point to -13, which is nine points lower than March ’11.

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About the survey
- The UK Consumer Confidence Barometer is conducted by GfK on behalf of the EU, with similar surveys being conducted in each European country. In producing its own reports on the whole of Europe, the EU applies a seasonal adjustment to the data, to smooth out any changes that are functions at least in part of the time of year.

- Historically, the UK data have not been seasonally adjusted in this way, and to maintain comparability, GfK continues not to apply this adjustment. This can lead to situations where the EU figures show different movements in a particular month from those produced by GfK. Individual months may be affected, but the long term trend is not.

- The UK Consumer Confidence Survey from GfK was conducted amongst a sample of 1,998 individuals aged 16+ on behalf of the European Commission.

- Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population.

- Interviewing was carried out during 2nd – 11th March 2012.

- The figures contained within the Consumer Confidence Barometer have an estimated margin of error of +/-2%

- Results for the Consumer Confidence Barometer are normally available on the last working day of each month at 00.01am; the release date for April 2012 is Friday 27th April 2012.

- Any published material requires a reference to both GfK and the European Commission e.g. ‘Research carried out by GfK on behalf of the European Commission’.

- This study has been running since 1974. Back data is available from 1996.

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Research carried out by GfK on behalf of the European Commission

About The GfK Group
For further information, visit our website: www.gfk.com .
Follow us on Twitter: www.twitter.com/gfk_group

30 March 2012

Last Updated ( 30 Mar 2012 )
 
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