UK consumer confidence hits record low, as people cut back on food shopping – business live
Introduction: UK consumer confidence at record low
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UK consumer confidence has fallen to its lowest level since records began nearly 50 years ago, as the cost of living crisis hits households, and a summer of strike action looms.
Research company GfK’s monthly survey of Consumer Confidence Index has hit a new record low this month, dropping one point to -41 in June.
There was a particularly sharp drop in people’s personal financial expectations, as inflation squeezed incomes.
Measures of changes in personal finances over the last year, and of general economic situation over the last year and the next year all dropped.
Joe Staton, Client Strategy Director, GfK says Britain faces a stark …
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