British consumers are waiting with big ticket purchases being put on hold according to GfK NOP's Consumer Confidence headline index.
The March 2007 index remained the same as February 2007 at -8, one point lower than this time last year. Four of the five index measures this month have remained the same. The annual moving average remains the same as last month at -6.
Divisional Director at GfK NOP, Carol Bernasconi, said, "There has been no change in the overall index score this month, possibly because consumers may have been waiting for Gordon Brown's final budget this month.
“Reports about the rises in both the RPI and inflation rates, combined with continued speculation about further interest rate increases may have left consumers apprehensively sitting during March."
The index measuring changes in personal household finances during the last year has seen no increase this month and remains at 0. This is four points higher than the level recorded in March 2006.
There has also been no change in opinion regarding the outlook for household finances for the next year. This index has remained at a score of +10, three points higher than in March '06.
Views on the general economic situation in the UK during the last twelve months have also remained at -33 this month. In March '06 the index was three points higher at -30.
There has been no change in expectations for the general economic situation during the next twelve months with the index remaining at -21. In March '06, opinion was at a similar level and the score was -20.
The major purchases measure has seen the only change this month with a decrease from +4 to +2 this month. This score is 10 points lower than March 2006, and it has not been this low since December 2006 when the score was -4.The 'now is a good time to save' index has remained at the same level as last month with a score of +35. This figure is three points.
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