This is the key finding of the second edition of The Consumer Today, a quarterly report from dunnhumby and Tesco. The Consumer Today uses dunnhumby and Tesco’s unique insight to assess the state of consumer confidence in Britain. The index is measured against a base of 100 set from July 2010.
The latest survey covered the three months from February to end of April. Although the index rose to 104 from 101 in January, confidence levels did fluctuate over the quarter with a drop in March. The more positive picture in April was driven by consumers’ expectations for the future.
The latest survey period coincided with exceptionally cold weather in March and contrasting economic news such as GDP forecasts being revised down and the loss of the UK’s AAA status, while pensioner benefits were given protection and supermarkets cut petrol prices.