Consumer confidence remained at the same low level in March as it was in February, according to GFK/NOP’s respected Consumer Confidence Monitor.
Its overall index remained at -28. There was a small improvement in two of the five measures, perception of the country’s economic situation over the past 12 months and the next 12 months.
Consumers’ confidence in their own personal financial situation over the past 12 months, and their willingness to make major purchases, both declined. Confidence in personal financial situation over the next 12 months stayed the same.
The survey was carried out before last week’s budget. Nick Moon, managing director of GFK/NOP Social Research said “this months figures show how badly some form of stimulus is needed, since consumer confidence has stagnated at depths seldom seen outside actual recession.”