Fear of economy slump as consumer confidence dips

OPTIMISM for better times fell away in February as consumers considered their financial outlook in the coming year and appraised the past 12 months.

- BY MAURICIO ALENCAR

The dip in confidence — revealed in a monthly survey by research firm GfK - has added to fears that the UK economy is heading for a slump.

GfK said consumer positivity dropped three points to -19. This will likely worry Labour spin doctors talking up government efforts to tackle the cost of living.

The survey found that people were also more negative about their personal finances in both the past 12 months and the next 12.

Brits’ feeling about the general economy in the year to come was unchanged, and was up one point from January when looking back.