Consumer confidence dropped in February, the latest GfK consumer confidence index has revealed.

The market research company’s overall monthly index score, which was measured from 2 to 16 February, declined by three points to -19.

Its expectations for personal finances over the next year dipped four points to 2, putting it in line with the same time last year.

Forecasts for the general economic situation over the next year remained consistent at -31, which was the same as February 2025.

The firm’s major purchase index dropped by four points over the month to -14, making it three points above last February.

GFK consumer insights director Neil Bellamy said: “After a modest improvement in recent months, consumer confidence is down three points in February, returning to the level seen in November 2025. 

“This decline is mainly driven by weaker perceptions of personal finances – both looking back a year and ahead. 

“Fewer people say that now is a good time to make major purchases and fewer consumers intend to save money.”

He added: “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.”

Click here to sign up to Retail Gazette‘s free daily email newsletter