Rising anxiety over the UK's worsening double-dip recession is set to further undermine fragile consumer confidence this month, despite some respite for motorists from falling petrol prices. Experts predict the GfK index - which surveys individuals' assessment of their personal finances, the wider economy and willingness to splash out on 'big ticket' purchases - will slide to -33 in May. This leaves confidence at its lowest ebb since last December and close to the depths of 2009. Worries over recession - as well as a messy Greek pull-out of the euro - are likely to hit sentiment among shoppers despite a sharp fall in inflation to 3% in April and better news on the jobs market, economists said. IHS Global Insight's Howard Archer said: "It doesn't help matters when the papers are full of recession and Greek chaos is leading the news every night." Petrol prices are down nearly 7p a litre from mid-April's record highs of 142.5p, according to the AA - potentially freeing up an extra £3.3bn a day for consumers to spend elsewhere.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor