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1. Screenshot of report of S and P Global UK Consumer Sentiment Index


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2. Various of UK national flag atop building

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3. Various of Bank of England; pedestrians; London buses

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4. Various of business street, traffic, pedestrians

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5. Various of signs showing Black Friday discounts, customers at store

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6. Cityscape, pedestrians
7. Vessels on River Thames; Tower Bridge

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8. Various of traffic, pedestrians

The UK's Consumer Sentiment Index has dropped to 44.1 in March, the lowest level since January 2025, according to a report issued by Standard and Poor's Global on Monday.

The index fell another 0.7 percentage point from 44.8 in February amid the outbreak of war in the Middle East, according to the report based on a survey of 1,500 households in the UK.

British households are now most downbeat about their financial prospects since December 2023, and their views towards major purchasing activity have become the most conservative in 14 months, the report said.

The ongoing conflict in the Middle East has also caused British households to view a further cut in interest rates by the Bank of England as increasingly unlikely in the near term, according to the report.

Commenting on the survey, Maryam Baluch, economist at the Market Intelligence with Standard and Poor's Global, said that a marked deterioration of consumer sentiment in March means the first concrete signs of the war in the Middle East damaging the UK economy.

Diminished expectations of interest rate cuts are further prompting British households to scrutinize their outgoings in an effort to limit their financial burden, said the economist.