UK consumer confidence spiked higher in March although it remains subdued, a new survey has suggested.'This month consumer confidence jumped quite significantly to levels not seen since May last year,' said Rachael Joy of the consumer confidence team at survey compiler GfK/NOP. 'It still remains historically very low, but suggests that lower interest rates and a better picture for household bills are restoring some confidence among UK consumers.'
'Certainly, when looking to the future, consumers are feeling better about the likely performance of the economy over the next 12 months.'
The overall index score this month has risen five points to -30, eleven points lower than this time last year. The rise this month has been driven by an increase in confidence over the economic situation over the next twelve months. The annual moving average continues its downward trend and has dropped one point to -32. The score on personal confidence ticked up to -13 from -14 in February.
The forecast for personal finances over the next year has risen two points to a score of -6. This is ten points lower than March 2008
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