UK consumer confidence at record low in August

The GfK research institute has found that UK households are dissatisfied with the rising cost of living. As a result, consumer confidence fell to its lowest level since at least 1974.

The UK consumer confidence index fell to a record low of -44 in August from -41 in July, the lowest level since the survey began.

Personal and economic indicators for UK households have declined over the past 12 months.

“All indices have dropped reflecting persistent anxiety after the cost of living soared. Dissatisfaction with the UK economy is the biggest driver of these numbers,” said GfK’s director of client strategy.

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