Confidence in economy falls

CONSUMER confidence in the future of the UK economy has plummeted to its lowest level since the height of the cost-of-living crisis, according to a new survey.

- JOSIE CLARKE

Almost two-thirds of consumers (64%) believe the economy will get worse before it gets better, according to the Which? Consumer Insight Tracker.

Confidence fell by seven points to minus 53 in April its lowest level since December 2022, when the cost-of-living crisis was at its height and the inflation rate was above 10%.

When Which? asked respondents who reported being pessimistic why they felt so negatively about the future UK economy, 67% said it was because of global events, while 63% cited changes in prices and 60% mentioned government tax changes.

Confidence in future household finances also fell significantly, by 10 points to minus 19 - the lowest level reported since July 2023 while confidence in current household finances dropped six points to minus 21.