United Kingdom: Consumer confidence falls to record low in August
Consumer confidence came in at minus 44.0 in August, down from July’s minus 41.0. August’s result marked the worst performance on record.
The headline print reflected a deterioration in consumers’ views on the general economic situation, their financial situation and making major purchases.
Regarding the reading, Joe Staton, GfK’s client strategy director, stated:
“With headline after headline revealing record inflation eroding household buying power, the strain on the personal finances of many in the UK is alarming. Just making ends meet has become a nightmare and the crisis of confidence will only worsen with the darkening days of autumn and the colder months of winter.”