Data: Consumer confidence drops for third month in a row
October marked the third month in a row that consumer confidence fell as consumers faced ongoing fuel and food shortages and rising inflation, as well as a growing number of Covid-19 cases.
Overall sentiment in GfK’s consumer confidence index fell by four points to -17 in October. All measures recorded by the index were down compared to September.
Consumers expressed slight concerns about their personal finances over the next 12 months with the index decreasing by one point, but four points better than in October 2020.
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