Consumer confidence in Britain fell slightly in March as concerns about rising interest rates made consumers unsure about buying major items, a survey showed today.
Research company Martin Hamblin said its consumer confidence barometer fell to minus 3 this month from February's minus 2.
Analysts had predicted the index would remain at minus 2 although the reading, which is not seasonally adjusted, tends to fall one point between February and March. The company said the train bombings in Madrid may have had some impact but the index had not moved that much.
The one point fall in the index figure is principally driven by a further decline in the major purchases measure whose index fell to plus 9 this month from plus 14 in February due to interest rate increase speculation.
The Bank of England has raised borrowing costs twice since November and economists believe the next round of tightening might not be far off.
The survey was carried out between March 4th and 23rd. Expectations for the general economic situation in the next 12 months also declined slightly by one point to minus 12 in March.