Consumer confidence saw a marginal improvement in March, rising overall by just one point to -19, new data shows.

According to GfK’s UK Consumer Confidence Barometer, consumer confidence in the general economic situation over the last 12 months rose by two points to -42, which is three points better than in March 2024.

While views on the general economic situation over the next 12 months also increased by two points to -29, this was six points worse than the same period last year.

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Consumer views on their personal financial situation over the last 12 months was down two points to -9, however GfK noted that this is four points better than in March 2024. Personal financial situation over the next 12 months fell one point to a score of +1, which is one point worse than this time last year.

NIQ GfK consumer insights director Neil Bellamy said that changes to perceptions of the wider economy represent “only a marginal improvement”.

“Since September last year, the headline has been in a range of -17 to -22. This is more positive than mid-2022 into early 2023 at the height of the cost-of-living crisis, which delivered the worst headline scores ever including nine months at -40 or worse. But we are still below the long-term average of -10.

“If consumer confidence were a patient languishing in a hospital bed, a doctor would say there is little evidence of a recovery as yet. Where do we go from here? The current stability is to be welcomed but it won’t take much to upset the fragile consumer mood.”