Consumer confidence weakens as economic fears grow
By Abigail Townsend
Date: Friday 25 Apr 2025
(Sharecast News) - UK consumer confidence softened notably in April, a long-running survey showed on Friday, as concerns about the health of the economy mounted.
The latest GfK Consumer Confidence Barometer was -23, down four points on both March and on April 2024. It was also the lowest level since November 2023.
Within that, all-sub measures were lower, although the sharpest falls related to the economy. Expectations for the general economic situation over the next 12 months fell eight points to -37.
Expectations for personal finances were also weaker, falling four points into negative territory at -3.
The Savings Index, which is not used in the overall score, was the only measure to move upwards, putting on five points at 30.
Neil Bellamy, consumer insights director at GfK, said: "There are good reasons for this downturn. Consumers have not only been grappling with multiple April cost increases - in the form of utilities, council tax, stamp tax and [vehicle] tax - but they are also hearing dire warnings of renewed high inflation of the back of Trump's tariffs.
"The inflation rate eased in March, but are we now on the verge of another round of rapidly increasing prices? If so, consumer confidence is likely to collapse, and the broad gains see since the disastrous September 2022 mini budget, when confidence hit a record low of -49, could quickly be eroded."
Responses to the survey, which has been running since 1974, were collected from a sample of 2,002 people aged 16+ between 1 and 14 April.
The barometer has been published jointly by GfK and GfK's founder, the Nuremberg Institute for Market Decisions (NIM), since October 2023.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN