The market analysis firm’s month-to-month index fell by 4 factors to -23.
The forecast for private funds over the subsequent 12 months has additionally dropped by 4 factors to -3. That is 5 factors worse than this time final yr.
Expectations for the final financial state of affairs over the subsequent 12 months have additionally declined by eight factors to -37; a 16 level drop yr on yr.
Neil Bellamy, shopper insights director at GFK stated: “Headline confidence is down 4 factors in April, led by two sharp drops in our financial measures.
“There are good causes for this downturn. Shoppers haven’t solely been grappling with a number of April price will increase within the type of utilities, council tax, stamp obligation, and street tax, however they’re additionally listening to dire warnings of renewed excessive inflation on the again of the Trump tariffs.
“The inflation charge eased in March, however are we now on the verge of one other spherical of quickly rising costs? In that case, shopper confidence is more likely to collapse and the broad features seen because the disastrous September 2022 minibudget, when confidence hit a report low of -49, might rapidly be eroded.”
