British Consumer Confidence Dips Back to Record Lows
Despite the UK government unveiling its plans to ease the lockdown over the coming weeks, consumer confidence in the country has plummeted
Despite the UK government unveiling its plans to ease the lockdown over the coming weeks, consumer confidence in the country has plummeted back to record lows for the month of May. After a slight increase to -33 in the second half of April, the GfK consumer confidence index is back at -34 during the first half of May.
According to client strategy director at GfK, Joe Staton, “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.”
On a slightly positive note, GfK’s Major Purchase Index marked an improvement for the second consecutive survey, but remains firmly in negative territory at -47. For the same period a year ago, the index stood at +1, considerably higher.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals