Consumer confidence in Great Britain remains at a record low

An exceptionally low level of consumer confidence has been registered in Great Britain over eight successive months. In a 50-year long history of the GfK survey, this is the longest period of gloom in the country.

As it was stated by GfK Ltd., its measure of consumer sentiment rose to the level of -42 in December. It is still not too far away from the bottom level of -49 reached in September.

These data reflects an impact the surging prices and possible inflation have on British households: more and more citizens note that their financial situation is deteriorating, and lots of them expect it to get worse over the following year.

As it was said by client strategy director at GfK Joe Staton in a Friday report, real wages are declining as inflation levels are still high.

All GfK indices demonstrated a decrease in comparison with the same month in 2021, except one index that measures savings.