U.K. Consumer Confidence at 12-Year Low in Virus Lockdown By Bloomberg

© Bloomberg. A member of the public sits outside the London Stock Exchange (LSE) in London, U.K., on Monday, March 23, 2020. The U.K. stepped in to shore up the country’s rail operators after Prime Minister Boris Johnson warned Britons they face

(Bloomberg) — U.K. consumer confidence held at the lowest in more than a decade as stores close and shoppers are told to stay indoors to prevent the spread of coronavirus.

GfK said its measure of sentiment was at -34 in April, close to the troughs seen during the financial crisis in 2008. Households had become marginally less bleak about the outlook for their personal finances over the coming year, but the index of major purchases remained week.

Britons have been in government-imposed lockdown since March 23 with schools, non-essential stops and most workplaces shuttered. Travel out of the home is restricted to food shopping and exercise.

“It is impossible to say if this is at the bottom after weeks of adjustment to the reality of lockdown life, or if further falls are to come,” said GfK Client Strategy Director Joe Staton. “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.”

©2020 Bloomberg L.P.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.