Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Confidence levels slump

The turmoil in the financial markets has wiped out consumer confidence to levels not seen since the 1990s recession, despite an uplift at the beginning of September.

According to a consumer confidence index published this week by research firm GfK NOP, shoppers’ confidence levels rose for the second consecutive month to -32 in September from -36 in August.

But following the financial upheavals seen in the latter part of September, GfK NOP ran a second survey which showed consumer confidence had fallen back to -36.
Rachael Joy, a consultant, at GfK NOP, said: “Most people are coming to terms with living in a depression.”

Separately, the number of negative trading updates posted by retailers on the London Stock Exchange is at its highest level in more than two years and continues to rise during the third quarter of 2008, according to financial adviser Grant Thornton.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.