“,”elementId”:”3b57760d-f5cc-4b90-9fe4-b481f7763d30″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The index rose for the second month in a row, edging upwards to -19 from a measure of -20. The new reaching represents a three-month high but is still below the survey’s long-run average of -10.
“,”elementId”:”8fcb6d68-a558-4fbf-a0dd-416d433353e7″},{“displayCredit”:true,”_type”:”model.dotcomrendering.pageElements.ImageBlockElement”,”role”:”inline”,”media”:{“allImages”:[{“index”:0,”fields”:{“height”:”311″,”width”:”665″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/665.jpg”},{“index”:1,”fields”:{“isMaster”:”true”,”height”:”311″,”width”:”665″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg”},{“index”:2,”fields”:{“height”:”234″,”width”:”500″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/500.jpg”},{“index”:3,”fields”:{“height”:”65″,”width”:”140″},”mediaType”:”Image”,”mimeType”:”image/jpeg”,”url”:”https://media.guim.co.uk/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/140.jpg”}]}, “lementid”: “1FB5022E-9E0B-4EC4-A26F-C6BF63F813CD”, “ImagesOurces”:[{“weighting”:”inline”,”srcSet”:[{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=620&quality=85&auto=format&fit=max&s=e1fcc72cbd810e9d2bf7d785d8e1c2e4″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=9ef366b28183520027b5554ea19e0615″,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=605&quality=85&auto=format&fit=max&s=34fc49c11426bff0027f760b3c23ef72″,”width”:605},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=92a8035cc8a52cbcbecf0b6a9e7ab129″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=445&quality=85&auto=format&fit=max&s=12dac0233792ed84fab5f6b049e95e69″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=98a23204135e9ac89f4bfbf6cd4fe455″,”width”:890}]}, {“Weighting”: “Thumbnail”, “srcset”:[{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=140&quality=85&auto=format&fit=max&s=aef94b5ec151d1466d7213509ff37ca0″,”width”:140},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=140&quality=45&auto=format&fit=max&dpr=2&s=f1d679e99566d59b8b1ec9ddf3cbc13c”,”width”:280},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=120&quality=85&auto=format&fit=max&s=93b54c711ea58cfd7905c59119104b7e”,”width”:120},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=120&quality=45&auto=format&fit=max&dpr=2&s=7a7afe7bc41179f351b54d2ed5654cd9″,”width”:240}]}, {“Weighting”: “Support”, “srcset”:[{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=380&quality=85&auto=format&fit=max&s=e7f181701a8f56dd0660d87b331359e5″,”width”:380},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=380&quality=45&auto=format&fit=max&dpr=2&s=15afd57872517950338ca87f41cdbaf6″,”width”:760},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=300&quality=85&auto=format&fit=max&s=f7ec2a264a63199ddbdd19141de5fe34″,”width”:300},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=300&quality=45&auto=format&fit=max&dpr=2&s=d8d90c4aab386bff27cbc403c19a36df”,”width”:600},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=620&quality=85&auto=format&fit=max&s=e1fcc72cbd810e9d2bf7d785d8e1c2e4″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=9ef366b28183520027b5554ea19e0615″,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=605&quality=85&auto=format&fit=max&s=34fc49c11426bff0027f760b3c23ef72″,”width”:605},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=92a8035cc8a52cbcbecf0b6a9e7ab129″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=445&quality=85&auto=format&fit=max&s=12dac0233792ed84fab5f6b049e95e69″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=98a23204135e9ac89f4bfbf6cd4fe455″,”width”:890}]}, {“Weighting”: “showcase”, “srcset”:[{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=860&quality=85&auto=format&fit=max&s=5da8aa0d175a2806c98262079eb061d8″,”width”:860},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=860&quality=45&auto=format&fit=max&dpr=2&s=1845c8d669cfaa47107c81ee1ba9fb9b”,”width”:1720},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=780&quality=85&auto=format&fit=max&s=3c296f6c1b5aac6649072a36a0a62a61″,”width”:780},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=780&quality=45&auto=format&fit=max&dpr=2&s=adff6a3ee2959231d2dbc87267b2410b”,”width”:1560},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=620&quality=85&auto=format&fit=max&s=e1fcc72cbd810e9d2bf7d785d8e1c2e4″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=9ef366b28183520027b5554ea19e0615″,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=605&quality=85&auto=format&fit=max&s=34fc49c11426bff0027f760b3c23ef72″,”width”:605},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=92a8035cc8a52cbcbecf0b6a9e7ab129″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=445&quality=85&auto=format&fit=max&s=12dac0233792ed84fab5f6b049e95e69″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=98a23204135e9ac89f4bfbf6cd4fe455″,”width”:890}]}, {“Weighting”: “halfwidth”, “srcset”:[{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=620&quality=85&auto=format&fit=max&s=e1fcc72cbd810e9d2bf7d785d8e1c2e4″,”width”:620},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=9ef366b28183520027b5554ea19e0615″,”width”:1240},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=605&quality=85&auto=format&fit=max&s=34fc49c11426bff0027f760b3c23ef72″,”width”:605},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=605&quality=45&auto=format&fit=max&dpr=2&s=92a8035cc8a52cbcbecf0b6a9e7ab129″,”width”:1210},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=445&quality=85&auto=format&fit=max&s=12dac0233792ed84fab5f6b049e95e69″,”width”:445},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=445&quality=45&auto=format&fit=max&dpr=2&s=98a23204135e9ac89f4bfbf6cd4fe455″,”width”:890}]}, {“Weighting”: “Immersion”, “srcset”:[{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=1900&quality=85&auto=format&fit=max&s=5255cc83416a4b916f978ff7730bafd8″,”width”:1900},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=1900&quality=45&auto=format&fit=max&dpr=2&s=5739e48762ff2e68a8c1c8c2581dd860″,”width”:3800},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=1300&quality=85&auto=format&fit=max&s=6c36915408c86e8d71d3fac2d2240fc9″,”width”:1300},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=1300&quality=45&auto=format&fit=max&dpr=2&s=a736b284ba0a63a0a15cdf26ddd355f2″,”width”:2600},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=1140&quality=85&auto=format&fit=max&s=44678a2628e38b7b90a27db5192bb61d”,”width”:1140},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=1140&quality=45&auto=format&fit=max&dpr=2&s=3b082a8036e8312bdec5edd33ee40b27″,”width”:2280},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=980&quality=85&auto=format&fit=max&s=1e93f247e21ddb156059e62a35965578″,”width”:980},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=980&quality=45&auto=format&fit=max&dpr=2&s=fbb71837a894666a8d3d1e281c4b7d1b”,”width”:1960},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=740&quality=85&auto=format&fit=max&s=0b55f22d0ab46787016f15f8543b2fd2″,”width”:740},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=740&quality=45&auto=format&fit=max&dpr=2&s=cf09ddde9952a25cf8a7819596671993″,”width”:1480},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=660&quality=85&auto=format&fit=max&s=5abbcf11fc92b8b87ac90ac3359baa5e”,”width”:660},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=660&quality=45&auto=format&fit=max&dpr=2&s=dd4c4a8435967ac6272f93058d5e9b39″,”width”:1320},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=480&quality=85&auto=format&fit=max&s=3704613dc5556a5f76103074be1b1a71″,”width”:480},{“src”:”https://i.guim.co.uk/img/media/1000e20673fb3e53d567c51c4680cdb004c7004e/0_0_665_311/master/665.jpg?width=480&quality=45&auto=format&fit=max&dpr=2&s=ebe39a47757d5f2a33dd6fc5d3bb4821″,”width”:960}]}]”data”:{“alt”: “GFK's long-term consumer confidence index increased by 1 point in March.”, “Caption”: “GFK's long-term consumer confidence index increased by 1 point-19 in March. gfk “}}, {” _ type “:” model.dotcomrendering.pageElements.textblockelement “, ” html “:”
will be added to Mixed Photos for Reevesnumbers suggest a slight improvement in UK economy perception, but their confidence is still vulnerable.
“,” “ElementId “:” 576707d6-FBF8-4AB7-99CA-CAB2B119BCB1 “},{” _Type “:” Model.DotComRendering.PageElements.TextBlockElement “, “HTML “:”
Neil Bellamy, GFK's director of consumer insights, said:
“,” “ElementId “:” F82C4661-EDC0-41F0-99A4-AE7172745304 “},{” _Type “:” Model.DotComRendering.PageElements.BlockQuoteBlockElement “, “HTML “:”
\n
We are still below the long-term average of -10. If a patient suffers from consumer trust in hospital beds, doctors will say there is still little evidence of recovery. Where do you go from here?
\n
Although current stability is welcome, it doesn't take long to disrupt the mood of fragile consumers.
\n
“, “elementid “:” bec5e483-66b6-4c1f-a9b2-413018cb1f26 “}], “attribute “:{“pinned “:false, “keyevent “: true, “summary “:false},” “blockcreatedon “:174254130000,” “04.createddondondondodplay “edt “, “blocklastupdated “:1742544807000,” “blocklastupdateddisplay “:” 04.13 edt “, “blockfirstpublished”:1742544808000, “blockfirstpublisheddisplay “:” 04.13 edt “, ” blockfirstpublisheddisplaynotimezone “:” 04.13 “, “Title “:” March Consumer Trust Relations – GFK Index “, “Contributors”:[]”Primary Datririn”: “March 21, 2025 04.13 EDT”, “SecondaryDateline”: “Fri 21 Mar March 21, 04.01 EDT”}, {” ID “:” 67DD15D38F080F2F26AE16FD”, “Elements “:”: “67DD15D38F080F2F26AE16FD[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
“,”elementId”:”6f39def5-a7bd-49fa-91a0-bf84fa73f0a5″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The health of Britain’s public finances is being closely watched in both Westminster and the City of London, just days before chancellor Rachel Reeves is due to deliver her spring statement on 26 March.
“,”elementId”:”b0f34127-a36a-4319-8d8e-b67be946f4ce”},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
And the latest public finances data, just released by the Office for National Statistics, shows that the UK borrowed more than economists expected last month to balance the books.
“,”elementId”:”93c31a38-fb84-4f04-a963-e95952f2a567″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Public borrowing hit £10.7bn in February, higher than the £6.6bn forecasted by City economists.
“,”elementId”:”47250ede-535f-47ef-a32d-5a4cae1e2e71″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
It illustrates the scale of the challenge facing Reeves, who is due to announce cuts to spending, alongside fresh economic and public finance forecasts from the Office for Budget Responsibility, next week.
“,”elementId”:”fc7d3fb3-61f8-440e-8e2f-ea57448f91a9″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The ONS said that overall, government borrowing hit £132.2bn in the financial year to February, which is £14.7bn more than the same period a year earlier
“,”elementId”:”91f67120-b3ea-4297-b9f1-06193cbb2183″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Alex Kerr, UK economist at Capital Economics, said:
“,”elementId”:”2837727f-328e-4ab4-8895-323e31ae0630″},{“_type”:”model.dotcomrendering.pageElements.BlockquoteBlockElement”,”html”:”
\n
Although they will have no impact on the fiscal update next week, the significant overshoot in borrowing in February highlights the Chancellor’s tight fiscal backdrop. The OBR will still most likely conclude that the chancellor’s headroom against her fiscal rules has been wiped out.
\n
So we expect her to announce further non-defence spending cuts, on top of the welfare cuts already unveiled earlier this week.
\n
“,”elementId”:”d3a68e45-0bde-41cb-a8ab-0ec085f1f49b”},{“_type”:”model.dotcomrendering.pageElements.SubheadingBlockElement”,”html”:”
The agenda
“,”elementId”:”ca64aabb-cc14-497f-989b-a4b7314ce244″},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
- \n
- \n
3pm GMT: Eurozone consumer confidence (preliminary) for March
- \n
10:30am GMT: Russian interest rate decision
\n
\n
“,”elementId”:”e5091aa1-bbbd-4e66-8049-127ec4fb5002″}]”attribute”: { “pinned”: false, keyevent “: true, “summary “: false},” “blockcreatedon”: 17425444088000, “blockcreatedondisplay”: 04.01 edt “, “blocklastupdated”: 1742544085000, “04.01 edt “, “blockfirstpublished”: 1742544088000, “blockfirstpublisheddisplay”: 04.01 edt “, “blockfirstpublisheddisplaynotimezone”: 04.01 “, “title”:[]”Primary Datrin”: “March 21, 2025 04.13 EDT”, “SecondaryDateline”: “Fri 21 Mar 21, 04.01 EDT”}]”FilterKeyEvents”: “false”: “false”: “key-events-carousel-mobile”, “:fals” “:” key-events-carousel-mobile”,
Important Events
UK Consumer Trust Lifts in March – GFK Index
We have it too GFK Consumers Trust It shows another uptick of morale.
The index rose for the second consecutive month, rising from a -20 scale to -19. The new reach represents a 3 month high, but below the survey's long-term average -10.
will be added to Mixed Photos for Reevesnumbers suggest a slight improvement in UK economy perception, but their confidence is still vulnerable.
Neil Bellamy, GFK's director of consumer insights, said:
We are still below the long-term average of -10. If a patient suffers from consumer trust in hospital beds, doctors will say there is still little evidence of recovery. Where do you go from here?
Although current stability is welcome, it doesn't take long to disrupt the mood of fragile consumers.
Introduction: UK borrowings reach £10.7 billion in February
Good morning and welcome to our comprehensive coverage of our business, financial markets and the global economy.
UK financial health is being closely monitored in both Westminster and the city of London, where Prime Minister Rachel Reeves is set to issue a spring statement on March 26th.
And the latest financial data, Released by the National Bureau of Statisticsshowing that the UK borrowed more than an economist last month, which they hoped to balance their books.
In February, public borrowing reached £10.7 billion, higher than city economists predicted £6.6 billion.
This shows the scale of the challenges facing Reeves, who is set to announce spending cuts, along with fresh economic and financial forecasts from the office for budget responsibility next week.
Overall, the ONS said the government's borrowing reached £132.2 billion from February to February.
“We've seen a lot of effort into making it,” said Alex Kerr, British economist at Capital Economics.
They won't affect the fiscal renewal next week, but the big overshot of borrowing in February highlights the prime minister's tough fiscal background. OBR is most likely to conclude that the prime minister's headroom over her fiscal rules has been wiped out.
So, we look forward to her announcement of further non-defensive spending cuts, in addition to the welfare cuts announced earlier this week.
