Published by Mark Smith-HalvorsenWith every month that consumer confidence continues to fall, the prospect of a double-dip recession looms larger, according to GfK NOP.The group, which registered a fifth consecutive monthly decline in its consumer confidence index for July, said that such data gives a strong indication of what the economy will be doing in a few months' time.Speaking to the Telegraph, Nick Moon, managing director of social research at the organisation, said: "It's possible that respondents are already factoring into their view of the economy over the next 12 months the likely recessionary impact of the government's announcement about the level of spending cuts it wishes to make."However, he added that if this is not the case then the outlook is even gloomier.It will be a busy week for the pound in global forex trading next week, as a raft of high-impact data will give further signs of the direction the economy is taking, with house price data, manufacturing figures and a Bank of England policy statement all due to be published.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.