Consumer confidence hits record low of -44 in August

Consumer confidence is at its lowest since records began in 1974 and GfK expects that the general economic situation over the coming 12 months will deteriorate with a three-point drop to -60, which would be 54 points lower than August 2021

Acute concerns amid the soaring cost of living and bleak economic prospects saw GfK’s long-running Consumer Confidence Index fall by three points to -44 in August, the lowest since records began in 1974. 

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