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Recession Watch - UK Consumer Confidence Collapses
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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.
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.
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