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UK Consumer Confidence Hits Lowest Since 2022 as Nearly Half Tap Savings for Essentials

The downturn points to softer spending intentions across the spring.

Overview

  • Which?’s March Consumer Insight Tracker reports 49% of households are dipping into savings, selling items, or borrowing to cover everyday costs.
  • Confidence in the UK economy fell 13 points to -56, the weakest reading since late 2022, with 67% expecting conditions to worsen over the next year.
  • Confidence in future household finances slid to -15, and 26% now regularly use savings to bridge the gap between income and essential bills.
  • Some respondents cited the Middle East conflict and higher fuel prices as drivers of stress, while GfK found fewer people plan big-ticket purchases this month.
  • Which? urged people struggling with bills to contact providers and seek free debt advice, noting the setback reverses easing pressures seen at the end of 2025.