OAPs behind major yearly fall in consumer confidence

CONSUMER confidence in the economy has plummeted over the last year — fuelled by gloomy OAPs, figures show.

- By Josie Clarke

It tumbled 31 points from an average of minus nine between May and July 2024 to minus 40 between May and July this year, according to Which?’s Consumer Insight Tracker.

Between this May and July, 56% of people on average thought the economy would get worse and just 16% thought it would get better.

Pensioners have been the most pessimistic group, falling from an average of minus five between May and July last year to an average of minus 63 for the same period this year.