U.K. consumer confidence drops again in July

LONDON (MarketWatch) -- A measure of British consumer confidence fell for a fifth consecutive month in July, research firm GfK NOP reported Friday. The consumer confidence index fell three points to -22. "Given that consumer confidence measures are normally good predictors of what the economy itself will do a few months later, the continuing slide in the index makes a double-dip recession look more of a possibility as each month goes by," said Nick Moon, managing director of GfK NOP Social Research. Respondents may be factoring in concerns about the potential impact of the government's planned austerity measures, he said. The index is produced on behalf of the European Commission.

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