Consumer confidence hits new record low

Confidence among British consumers has fallen to another record low. A closely watched monthly survey of sentiment, compiled by GfK, fell a further five points this month to -49, the fourth time in the past five months that it has hit a fresh low. Britons are now more pessimistic about the economic outlook than at any time since records began in 1974. Even during the peak of the financial crash in the summer of 2008, confidence only fell as low as -39. More than a quarter of businesses reported a fall in revenue last month, with restaurants, pubs and bars in particular struggling as consumers tightened purse strings. Data from the Office for National Statistics showed that in 26% of companies reported lower turnover in August than the previous month, while only 15% saw a rise in sales. The Times (£) and The Times (£)