Consumer confidence in the United Kingdom set a new record low in August, according to a report by GfK on Friday. The Consumer Confidence Index fell to a negative 44 in August, compared to a negative 41 in July and expectations of a negative 42.
"A sense of exasperation about the UK’s economy is the biggest driver of these findings. Our sub-measure on the general economy over the past year has decreased month-on-month since December 2021," GfK Client Strategy Director Joe Staton said. "With headline after headline revealing record inflation eroding household buying power, the strain on the personal finances of many in the UK is alarming."
