UK GfK Consumer Confidence dropped to -36 in May, down from -34. That’s the lowest level since January 2009, and not far from record low of -39 touched in July 2008.
GfK’s client strategy director Joe Staton said: “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”. Meanwhile, “as the lockdown eases, it will be interesting to see just how the consumer appetite for spending returns in a world of socially-distanced shopping and the seismic shift to online retailing.”
