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Recession Watch - UK Consumer Confidence Collapses

Geoff Riley

5th August 2022

There has been a sharp fall in consumer confidence which is now lower than it was in the early stages of the Global Financial Crisis in 2007-08.

Recession Watch - UK Consumer Confidence Collapses

Consumer confidence data is seen as a reliable lead indicator of turning points in economic cycles.

A reading of -30 or worse has presaged a recession in four out of the last five occasions when the economy fell into a downturn.

Confidence is now lower than it was ahead of the recession caused by the global financial crisis in early 2008.

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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