Consumer confidence holds steady in April

British consumer confidence continued to hold steady in April, marking its highest level in more than 12 years, according to the latest figures from GfK.

GfK said its latest monthly Consumer Confidence Barometer remained unchanged at +4 in April from March, which the research firm said offers “mixed fortunes” for the government before the May 7 election.

Nick Moon, managing director of social research at GfK, said: “On the one hand, there is no continuing momentum – the index has not risen since last month – while on the other hand the index is standing at a far higher point than when the government came to power.

“In May 2010, the core index score was –18. After dipping to as low as -33 in December 2011, it was out of negative territory at zero by May 2014 and over the past 11 months has recorded six positive scores. We haven’t seen the scores of the past two months (+4) since September 2002.”

While the forecast for personal finances over the next 12 months remained the same at 7, two points higher than April 2014, and the index measuring expectations for the general economic situation over the next 12 months was also remained unchanged at 6.

The research also noted that the climate for major purchase index decreased by three points this month to 6, however, this is still 10 points higher than the same time last year.