UK data – consumer confiudence in June is -41 vs. -40 expected

GfK consumer sentiment survey for June comes in at -41, a record low.

GfK comments:

• The consumer mood is currently darker than in the early stages of the Covid pandemic, the result of the 2016 Brexit referendum, and even the shock of the 2008 global financial crisis, and now there’s talk of a looming recession. One thing is for sure, Britain faces a stark new economic reality and history shows that consumers will not hesitate to retrench and tighten their purse strings when the going gets tough.