British consumer confidence remained unchanged for a third consecutive month in March, suggesting that the sentiment is stabilizing above the the very deep trough seen during most of 2012, a survey by GfK NOP revealed Thursday.
The confidence index remained at -26 for a third straight month in March, but was five points higher than in the same month last year.
"The Index is still extremely low in historical terms but even a small rise, when sustained as this one has been, should be considered good news," GfK Social Research Managing Director Nick Moon said.
"Whilst a third month with the Index unchanged may not see like cause for rejoicing, it does now begin to seem that the British public's mood has climbed slightly out of the very deep trough it was in for almost all of 2012, and what we are seeing now looks more like the new normal than a temporary boost," Moon said.
Three of the five components of the index saw decreases this month, with one measure increasing and one measure staying the same.
The index measuring changes in personal finances during the last 12 months stayed the same this month at -20, while the forecast for personal finances over the next 12 months decreased one point to -6.
The measure of Britons' outlook for the general economy one year ahead dropped two points to -27. Their assessment of the economic situation of the country during the last 12 months fell two points to -54.
At the same time, the index reflecting consumers' willingness to make major purchases increased three points to -23. The 'now is a good time to save' index, on the other hand, fell three points to -23.
The British economy contracted 0.3 percent in the fourth quarter following a 0.9 percent growth in the third quarter. Earlier this month, the Office for Budget Responsibility slashed the economy's growth forecast for this year to 0.6 percent from 1.2 percent growth projected in the Autumn statement.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.