Confidence in the economy over the next 12 months is also down, at a new low, forty-two points down on this time last year. The annual moving average has dropped to -14.
GfK NOP’s Rachael Joy said: “"This month the Index score continues to tumble and is almost at its lowest level since the survey began in 1974. At -34 it is only 1 point higher than the -35 recorded in March 1990 when the UK was heading into recession.
"With rising inflation, gloomy forecasts for interest rates and soaring fuel, utility and food prices dominating the front page headlines, it’s no surprise that confidence in the general economy is almost in freefall. It seems unlikely that this trend will reverse in the near future.”
