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Consumer confidence hits new high

Consumer confidence among UK shoppers hit an almost 13-year high in March, which could spell good news for retailers over the upcoming Easter weekend.

Social research firm GfK’s UK Consumer Confidence Index increased three points during the month to 4. All five measures used to calculate the index saw increases this month.

The index measuring changes in personal finances during the last 12 months increased one point during March to -2, placing it nine points higher than the same time last year.

The forecast for personal finances over the next 12 months also increased one point this month to 7, ending up at two points higher than March 2014.

Managing director of social research at GfK, Nick Moon, said: “At +4, the Index is the highest it has been for almost 13 years, and it has gone up a striking eight points in just three months.

“Reaction to the budget has thus far been muted, but if people warm to it over the next few weeks then we may well see a further increase in the Index next month. A consistently rising Index in the run-up to the election is likely to be good news for the government.”

@LukeToddUK

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