Consumer confidence has dropped to its lowest level since February 1993, according to research carried out by GfK NOP on behalf of the European Commission.The climate for major purchases index also fell two points during the month to -21 points, the lowest it has been since April 1995 and 23 points lower than the same time in 2007.
"Consumer confidence again continues its downward trend for the seventh month in a row. With news reports of possible recession in America, fears of recession in the UK, and stock market fluctuations, the consumer's gloom continues to grow," said GfK's consumer confidence researcher, Rachael Joy.
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