Consumer confidence continues downward trend in lockdown Britain

GfK’s long-running Consumer Confidence Index decreased by two points over the past two weeks, with four measures of confidence decreasing and one measure increasing.

Joe Staton, GfK’s client strategy director, said: “GfK’s third Covid-19 flash report records drops across key measures to -36, just three points shy of the historic low of -39 in July 2008.

“Against a backdrop of falling house prices, soaring jobless claims, and with no sign of a rapid V-shaped bounce-back on the cards, consumers remain pessimistic about the state of their finances and the wider economic picture for the year to come.”

The UK Consumer Confidence Index was conducted among a sample of 2,000 individuals aged over 16-years-old on behalf of the European Commission.