Some economists have linked the drop to officials' warnings of a "painful" Budget at the end of August, although it is impossible to prove a link. There were "major corrections" - or double digit falls - for consumers' perception of the general economic situation, as well as how likely they were to make big purchases.

Consumer confidence falls sharply as households ‘nervously’ await Budget - GfK’s Consumer Confidence Index fell seven points to minus 20, with significant drops in predictions for personal finances and the general economy.