Consumer confidence in the UK has seen a slight improvement, according to the latest BRC-Opinium survey. The index rose to -35 in March, up from a record low of -37 in February, reflecting cautious optimism among households regarding personal finances and retail spending.
The survey, based on responses from 2,000 people, found that retail spending expectations climbed to 0 from -5, while the overall spending index increased from 4 to 11. Younger consumers, particularly those aged 18 to 27, are expected to increase their spending, while Gen X consumers (aged 44-59) plan to cut back on most purchases except food.
Helen Dickinson, CEO of the British Retail Consortium, noted that while confidence remains low, signs of stabilisation are emerging. With the Spring Budget approaching, businesses and consumers are looking for measures to boost economic growth and spending confidence in the months ahead.
