UK data - GfK Consumer Confidence for September 2022 comes in at -49

  • expected was -42, prior -44

-49 is its lowest level since records began in the mid-1970s

Reuters note the further slump came despite:

  • Truss's statement on capping household energy bills
  • Joe Staton, client strategy director at GfK, said rock-bottom readings for the survey's forward-looking gauges were especially worrying. The survey follows much weaker-than-expected retail sales data for August. "Consumers are buckling under the pressure of the UK's growing cost-of-living crisis driven by rapidly rising food prices, domestic fuel bills and mortgage payments," Staton said.


Overnight in the UK:

UK PM Truss

Liz Truss Aug 6 2022 3