FOREX TradingCharts.com

Financial News: UK Consumer Confidence Logs Biggest Fall On Record:

UK Consumer Confidence Logs Biggest Fall On Record: GfK

04/05/2020 - 23:44:00 (RTTNews)

(RTTNews) - UK consumer sentiment registered its biggest fall since records began in January 1974 as measures taken to curb the spread of coronavirus weighed on households' economic expectations and purchase decision, survey data from the market research group GfK showed Monday.

The consumer confidence index fell to -34 from -9 seen in its regular survey for March, GfK said.

The market research group released an interim COVID-19 flash report using data gathered between March 16 and 27. The confidence index fell sharply by 25 points between the first two and last two weeks of March.

"Our COVID-19 'flash report' shows a dramatic result with consumer confidence falling off the cliff in the last two weeks of March," Joe Staton, GfK's Client Strategy Director, said. "The last time we saw such a decline was during the 2008 economic downturn."

The indicator for past personal financial situation declined by 6 points to -4 and that for future personal financial situation plunged 20 points to -17 at the end of March.

The indices for past and future general economic situation declined 17 points and 29 points respectively, in March

The major purchase index decreased sharply by 50 points to -52, the survey showed.

Despite record grocery sales, and recent peaks for purchases of freezers, TVs and home office equipment as people prepared for a long period in the home, the purchase index declined 50 points - a stark picture for some parts of the retail industry in the short to medium term, said Staton.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Eurozone Jobless Rate Rises In April (33 min(s), 11 sec(s) ago)
(RTTNews) - The euro area unemployment rate increased in April as member countries implemented cor ...Full Story»

German Unemployment Surges In May (48 min(s), 11 sec(s) ago)
(RTTNews) - German unemployment increased more than expected in May amid coronavirus pandemic, dat ...Full Story»

Russia Service Sector Contracts In May (01 hr(s), 38 min(s), 11 sec(s) ago)
(RTTNews) - Russia's service sector registered considerable contraction in May, due to the con ...Full Story»

India Service Sector Contracts In May (03 hr(s), 20 min(s), 11 sec(s) ago)
(RTTNews) - India's service sector contracted sharply in May as economic effects of the corona ...Full Story»

Swiss GDP Contracts More Than Expected In Q1 (03 hr(s), 48 min(s), 11 sec(s) ago)
(RTTNews) - The Swiss economy contracted more than expected in the first quarter as measures taken ...Full Story»

Australia's Private Sector Logs Sharp Fall In May (04 hr(s), 22 min(s), 11 sec(s) ago)
(RTTNews) - Australia's private sector contracted substantially in May as ongoing measures to ...Full Story»

China's Service Sector Expands For First Time In 4 Months (04 hr(s), 33 min(s), 11 sec(s) ago)
(RTTNews) - China's service sector expanded for the first time in four months in May amid an e ...Full Story»

European Economics Preview: Eurozone Unemployment, PMI Data Due (05 hr(s), 37 min(s), 11 sec(s) ago)
(RTTNews) - Unemployment and final Purchasing Managers' survey results from euro area are due ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Eurozone Jobless Rate Rises In April

06/03/2020 - 05:14 AM (RTTNews)
(RTTNews) - The euro area unemployment rate increased in April as member countries implemented cor ...Full Story>>

German Unemployment Surges In May

06/03/2020 - 04:59 AM (RTTNews)
(RTTNews) - German unemployment increased more than expected in May amid coronavirus pandemic, dat ...Full Story>>

Russia Service Sector Contracts In May

06/03/2020 - 04:09 AM (RTTNews)
(RTTNews) - Russia's service sector registered considerable contraction in May, due to the con ...Full Story>>

India Service Sector Contracts In May

06/03/2020 - 02:27 AM (RTTNews)
(RTTNews) - India's service sector contracted sharply in May as economic effects of the corona ...Full Story>>

Swiss GDP Contracts More Than Expected In Q1

06/03/2020 - 01:59 AM (RTTNews)
(RTTNews) - The Swiss economy contracted more than expected in the first quarter as measures taken ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.