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United Kingdom Consumer Confidence March 2019

United Kingdom: Consumers remain pessimistic in March

The GfK consumer confidence indicator was unchanged at minus 13 points in March. The index therefore remained in negative territory, where it has been since April 2016, highlighting that consumers are broadly pessimistic.

March’s reading was underpinned by less pessimism regarding personal finances and the general economic situation over the next 12 months, which was offset by a fall in consumers’ willingness to make major purchases.

Going forward, consumer sentiment is unlikely to see a significant improvement until the cloud of uncertainty currently surrounding the Brexit withdrawal process is lifted. Assuming a no-deal Brexit is avoided, reduced political uncertainty and higher real wages could boost consumer sentiment and support private consumption in 2019.

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