UK DATA: April GfK Consumer Confidence Lowest Since Feb 2009
–UK GfK/NOP Consumer Confidence Drops To -31 In Apr Vs -28 Mar
Consumer confidence slid again in April, hitting its lowest level
since February 2009, as Chancellor George Osborne’s “Budget for Growth”
failed to soothe fears about looming spending cuts and squeezes on
real incomes, according to the latest GfK/NOP consumer confidence
survey. April saw falls in all five measures of confidence used by
GfK/NOP, pushing the index to -31, down from the -28 seen in March and
below analysts’ median estimates for a reading of -27. The -31
reading was the lowest since the -35 recorded in February 2009 and only
8 percentage points above the all time low of -39 seen in July 2008.