Recent data by Ipsos MORI has painted a stark picture of the British economy. The study, released on Sunday, shows that economic confidence among Britons has declined to levels unseen since the survey began in 1978. With 75% of the population expecting a worsening economic situation over the next 12 months—an 8 percentage point increase since March—the findings signal deeply rooted pessimism.

Recent findings from research firm Ipsos MORI reveal a historic dip in British confidence regarding the nation’s economic future over the next 12 months. The survey indicates that skepticism is permeating both the business community and consumers, highlighting a significant shift towards pessimism.