The index, published jointly with GfK’s founder the Nuremberg Institute for Market Decisions, showed that UK consumer confidence in February was at -19, albeit a point higher than the same month the year before.

Personal finances helped drive the downward trend in confidence levels, with a four-point drop in perceptions of people’s personal financial situation over the past year and also for the year ahead, with scores of -7 and a positive score of two respectively.

Both personal finance scores were the same as that for February 2025.

The major purchase index, which examines whether now is the right time for a major purchase, was also down four points to -14, albeit above the -17 seen in the same month last year.

Confidence levels in the general economy over the last 12 months was up one point to -44, the same as last year’s score, and the general economic situation for the year ahead stayed at -31.

The savings index fell seven points but remained in positive territory with a score of 21.

The results are based on a nationally representative survey of 2,003 UK adults carried out between 2^nd and 16^th February.

Neil Bellamy, consumer insights director at GfK, said: “ Although the rate of inflation is easing, prices continue to rise, forcing many households to prioritise day-to-day spending over longer-term needs. Views on the broader economy remain firmly in negative territory, with consumers anticipating only limited economic growth this year. 

“Unemployment has now reached its highest level in nearly five years, and this is increasing concerns about job security, particularly given the backdrop of weak wage growth. With fewer entry-level opportunities available, those on lower incomes are already feeling the strain, and this trend risks undermining the typically more optimistic outlook held by younger age groups.”