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United Kingdom Consumer Confidence April 2020

United Kingdom: Consumer sentiment remains deeply pessimistic in April

The GfK consumer confidence indicator registered minus 34 in April, matching the flash release on 6 April and marking the joint lowest rate since the Financial Crisis.

Sentiment regarding the general economic situation was particularly dire, while consumers’ views on their personal financial situation—although still in negative territory—were less pessimistic.

According to Joe Staton, client strategy director at GfK: “It’s no surprise that the Major Purchase Index remains low: despite households making online purchases of home cooking equipment, freezers, TVs, monitors and other goods, these surges in demand have not compensated for the loss of overall retail sales due to the closure of physical stores. Overall, there is no guarantee yet that the fall in consumer confidence has ended, and we are only five points away from the record -39 low seen in July 2008.”

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