Coronavirus: Consumer confidence stabilises after early-April crash

Coronavirus supermarket shopper

Consumer confidence has stabilised after crashing at the start of the coronavirus crisis, although experts have refused to rule out a further slump to record lows.

Shopper sentiment remained at -34 during April, according to the GfK’s regular Consumer Confidence Barometer, the same level it recorded at the start of this month.

However, that remains just five points above the record lows of -39 recorded during the financial crisis in July 2008.

Consumer confidence plummeted from -9 in March to -34 during the first week of April as people reeled from the government’s lockdown measures and steps taken by companies to cut costs and preserve their futures.

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