Consumer confidence is in freefall as the cost of living crisis bites, with a closely watched measure dropping to a near-record low this month.
Confidence as measured on the monthly barometer produced by GfK fell seven points to -38, with consumers expressing more concern about the outlook for the wider economy than they did in the aftermath of the 2008 financial crash. The lowest score since the index began in 1974 was -39 in July 2008 at the peak of the financial crisis.
Consumers lost confidence in their personal finances and the likelihood that they would purchase big-ticket items such as furniture or electrical goods, as well as the wider economic outlook.
The GfK data was based on an online survey of 2,000 people aged
