Consumer confidence has fallen 18 points over the last year amid concerns around Brexit and the ongoing Eurozone crisis, according to market research agency GfK.
The UK’s Consumer Confidence Index stalled at zero in March, with two measures decreasing this month, one increasing and two staying the same.
“Whilst UK consumers remain resolutely upbeat about their personal financial situation, even showing a +1 point increase this month when asked about expectations for the year ahead, concerns about prospects for the general economic situation continue to dampen our mood,” said Joe Staton, head of market dynamics at GfK.
“Looking at how consumers see the wider economy developing over the next 12 months, we are 18 points lower this month than in March 2015. So, despite good economic headlines about low inflation, interest rates and prices in the shops, concerns about Brexit and the ongoing Eurozone crisis appear to be hitting home.”