Economic Buzz: UK GfK Consumer Confidence Weakens In March

25 Mar 2022 , 11:50 AM

UK consumer confidence weakened for the fourth straight month in March as the cost of living crisis deepened, survey results from the market research group GfK showed on Friday. The consumer confidence index fell to -31 in March from -26 in February. All five components of the index decreased from February. The survey was conducted among 2,000 individuals between March 1 and 14. The index measuring changes in personal finances over the last twelve months dropped two points to -13 and the forecast for personal finances decreased four points to -18. The measure for the general economic situation over the year was one point lower at -51 in March. Likewise, expectations for the general economic situation slid six points to -49. The Major Purchase Index plunged nine points to -24 in March. The savings index rose four points to +18 in March.

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