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MNI INTERVIEW: UK Cost-Of-Living Slams Consumer Sentiment- Gfk

(MNI) London

Surging inflation is weighing on consumer sentiment and the near-term outlook remains bleak, head of Gfk survey tells MNI

Financial events begin to feel like they are moving "beyond the control" of most people, Joe Staton, Client Strategy Director at GfK told MNI Thursday after the GfK Consumer Confidence Index slumped to -44 in August, its lowest level since records began almost half a century ago.

”That reflects the acute concern concerns of consumers as the cost-of-living soars. A sense of exasperation about the UK’s economy is the biggest driver of these findings," Staton said, pointing out that all sub-indexes are falling.

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Financial events begin to feel like they are moving "beyond the control" of most people, Joe Staton, Client Strategy Director at GfK told MNI Thursday after the GfK Consumer Confidence Index slumped to -44 in August, its lowest level since records began almost half a century ago.

”That reflects the acute concern concerns of consumers as the cost-of-living soars. A sense of exasperation about the UK’s economy is the biggest driver of these findings," Staton said, pointing out that all sub-indexes are falling.

Keep reading...Show less