Consumer confidence takes a hit amid pre-Budget nerves

OPTIMISM in the economy and personal finances has hit rock bottom — with dread over Wednesday’s Budget adding to people’s despair, according to research.

- By Amber Murray

The GfK consumer confidence barometer, closely watched by policymakers at the Treasury and Bank of England, skidded to -19 this month, down on the same time a year ago.

The survey of around 2,000 people found they are less confident about their personal financial situations. They were also losing hope of any improvement in the next year.

The reading for feelings about the general economic situation came in at -43, while expectations about the economy in the next 12 months also dropped.