Wall Street

UK consumer gloom hits record as economic misery mounts – GfK

Published by
Reuters UK

By William Schomberg LONDON (Reuters) – Confidence levels among Britain’s consumers sank to a new record low this month as households struggled with the accelerating cost of living and faced the prospect of months of strikes, a survey showed on Friday. Market research firm GfK said its consumer morale index, launched 48 years ago, fell to -41 in June from -40 in May, below levels that have previously preceded recessions. Economists polled by Reuters had expected the index to hold at -40. “With prices rising faster than wages, and the prospect of strikes and spiralling inflation causing a summe…

Read More

Share this Story
Load More Related Articles
Load More In Wall Street