Consumer confidence tumbles with ‘no sign of bounce-back’

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Consumer confidence fell further at the end of May as uncertainty surrounding the post-lockdown economy continued to swirl.

Shopper sentiment dropped two points to -36 during the past two weeks, just three points shy of historic lows recorded during the financial crisis of 2008.

Concerns over the state of the UK economy over the next 12 months mounted, according to GfK’s latest Consumer Confidence Index, as that metric fell three points to -57.

Consumers’ confidence about their own personal finances also declined. GfK reported a six-point decrease in sentiment to -10 over the past year, while confidence about their personal finances in the coming 12 months dipped one point to -10.

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