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UK Consumer Confidence Back At Joint Lowest Level Since 2009: GfK

Published on May 22 2020 8:24 AM in Retail tagged: Trending Posts / London / GfK

UK Consumer Confidence Back At Joint Lowest Level Since 2009: GfK

British consumer confidence in early May dipped back down to its joint-lowest level since the global financial crisis in 2009, despite moves by the government to start loosening its coronavirus lockdown, a survey showed on Friday.

GfK, a polling firm, said its consumer confidence index - which it is now publishing every two weeks - slipped to -34 in the 1- 14 May period from -33 during the second half of April.

"Consumer confidence remains battered and bruised despite efforts at loosening the COVID-19 restrictions," GfK's client strategy director Joe Staton said.

"With unemployment claims rising by the highest rate on record and warnings of a severe recession and possible tax hikes, the damage done by the coronavirus pandemic to the UK economic landscape has been laid bare," he added.

GfK's Major Purchase Index improved for a second survey in a row but at -47 remained way below its level of 1 a year ago.

News by Reuters, edited by Checkout. Click subscribe to sign up for the Checkout print edition.

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