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