8216;No Olympic uplift for glum UK consumers8217;

Confidence has never been so low for so long 8211; even during the dark days of the 2008-2009 recession,said Nick Moon,Managing Director of Social Research at GfK.

Unlike last year8217;s royal wedding,which boosted consumer confidence,there has been no spike to consumer sentiment following the Olympics.

Alternatively,he added,any uplift from the July 27-Aug. 12 London Olympics might have been cancelled out by a grim economic outlook.

Consumer confidence is trapped in a spiral of depression and it doesn8217;t look like improving any time soon,Moon said.