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UK consumer morale hits lowest since records began in 1974: GfK

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Reuters UK

By Andy Bruce LONDON (Reuters) – Pessimism weighing on Britain’s households has hit unprecedented levels as the cost-of-living crisis pushed confidence in the economic outlook to its joint lowest, a survey showed. Market research firm GfK said consumer morale gauge, dating back to 1974, touched an all-time low of -40 in May from -38 in April. Economists polled by Reuters had expected -39. Past readings this low have presaged recessions and Friday’s survey will further pressure finance minister Rishi Sunak to give more help urgently to households facing the highest rates of inflation since the …

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