As in the US, UK consumer confidence is at a multi-year low.
The latest GfK NOP measure for The European Commission is at –34, almost on a
par with its lowest ever score (-35) recorded in the months leading up to the
early 90s recession.
All 5 sub- measures deteriorated in June. The Index
measuring changes in personal finances during the past 12 months dropped by 6
points to –17 and is down 20 points on a year ago. The forecast for personal
finances has dropped 5 points to a score of –9, 22 points down on a year ago.
For the full press release go to the free Members area.