Consumer confidence drastically decreased due to coronavirus

Coronavirus grocery shopper

New research for the middle of March shows a drastic drop in consumer confidence due to the coronavirus pandemic.

Interim data gathered by GfK from March 16 to 27 shows a decrease of 25 percentage points in consumer confidence.

Overall consumer confidence for the period fell to -34, down from -9 in the middle of March and -7 in February, with all measures showing a decrease.

Indices for participants’ personal financial situation over the last year fell 6 percentage points to -4, while concerns over personal finances for the coming 12 months plummeted 20 percentage points to -17.

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