Consumer confidence at lowest level since 1990s

30 June 2008

Consumers’ confidence in their personal finances has fallen to its lowest level since 1995.

The Consumer Confidence index, compiled for the European Commission, shows that confidence about personal finances over the past year has dropped to a level not seen since April 1995, while optimism for finances over the next year is at its lowest level since September 1995.

Rachael Joy, from GfK NOP, the research firm that compiled the figures, says: “With rising inflation, gloomy forecasts for interest rates and soaring fuel, utility and food prices dominating the front page headlines, it’s no surprise that confidence in the general economy is almost in freefall. It seems unlikely that this trend will reverse in the near future”

The index also shows that confidence about the general economic situation is at its lowest level since December 1992 – while confidence about the outlook for the economy is at its lowest ever level since the index was launched in 1982.

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