Consumer confidence survey casts doubt on V-shaped recovery

Bank of England says fear of rising redundancies and concerns over shopping health risks are limiting spending

Fears of rising redundancies and concerns about the health risks of high street shopping have hit consumer confidence, according to a closely watched survey that flatlined last month.

The GfK barometer for July showed confidence petering out, despite rising in May and June. It came as a senior Bank of England policymaker warned Britain’s recovery from the Covid-19 pandemic would be hampered while concerns about catching the virus and fears of redundancy limited spending.

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