A few think tanks reported that consumer confidence in the UK worsened sharply last month. According to The Wall Street Journal, the appropriate indicator slumped to the lowest level over the past 11 years.

Amid the coronavirus pandemic, the index of the assessment of the current economic conditions crashed instantly by 25 points. The Wall Street Journal says this has been the steepest fall over nearly 50 years since the periodical began such surveys.

In the poll by GfK, the consumer confidence index is measured at minus 34, the weakest value since 2009. GfK NOP Ltd held an extra poll among British consumers in the second half of March 2020.       

Importantly, the consumer confidence index in the UK has got stuck firmly on the negative territory for over 4 straight years. Only in 2016, the indicator logged a few positive scores. However, the index dropped to minus 13 in March 2019.Apart from the consumers’ general assessment index, other indicators in the poll also posted dismal values. The indicator of consumers’ assessment of domestic economic conditions for the nearest 12 months tumbled by 29 points to minus 56. The measure of British households' willingness to make big purchases shed 50 points to minus 52.  

GfK analysts reported the historic low in the UK consumer confidence in July 2008 when the index came in at minus 39. Another record low of 10 points was posted in June 1987.