United Kingdom: Consumer confidence returns to pre-crisis levels
March 28, 2014
In March, the GfK NOP consumer confidence tallied minus 5 points, which was up from the minus 7 points recorded in February. The print marked the highest level since August 2007, which suggests that the drag in confidence that began after the financial crisis may finally be waning. The print overshot market expectations of the index increasing to minus 6 points. March's figure was driven by an across-the-board improvement; all the categories that make up the index registered improvements. The largest increases were tallied in consumers' expectations regarding their personal financial conditions and the general economic conditions in the last 12 months. FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.3% in 2014, which is unchanged over last month's estimate. For 2015, the panel sees private consumption expanding 2.1%.