UK consumer sentiment stabilises, but outlook still uncertain
By Benjamin Chiou
Date: Thursday 20 Mar 2025
(Sharecast News) - UK consumer sentiment improved slightly in March, according to a new survey out from the British Retail Consortium on Thursday, bouncing back after a record-low reading in February.
The BRC's consumer sentiment monitor found that 15% of consumers expect the state of the economy to improve over the next three months, up from 13% when asked last month.
While the proportion of those predicting a deterioration held steady at 50%, the overall balance improved to a net -35%, up from -37% - the worst on record and some 40 points lower than the last positive reading seen in July 2024.
The net balance of consumers' personal financial situation improved to -10 from -11 and spending levels improved to +11 from +4, while saving levels declined to -5 from -3.
Comparing different age groups, GenZs (aged 18-27) indicated that they would spend more over the coming three months in every category, while GenXers (aged 44-59) planned the biggest cuts to spending for most items.
"Consumer confidence stabilised this month after February's record low," said Helen Dickinson, chief executive of the BRC.
"This was coupled with an increase in spending expectations for the three months ahead, both for retail spending and spending more generally. Within retail, spending expectations for DIY and home improvements moved into positive territory for the first time."
Dickinson said the upcoming Spring statement next week is a chance for the government to "inject some confidence back into the economy", with many retailers and hospitality likely to increase prices as they cope with hikes to the national living wage and national insurance contributions.
"Without a much needed confidence boost from government, the scale of new costs will see retail investment fall further, holding back future growth in the economy," she said.
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