UK consumer confidence falls at fastest rate since Covid as cost of living bites

The war is a thousand miles away. The confidence drop is in the shopping basket, and the chancellor has a budget to write around it.

Economic fallout from war in Middle East adds to pressures on consumers and on chancellor before budget Consumer confidence in the UK has fallen at the fastest rate outside the Covid pandemic since the 2016 Brexit vote as the escalating economic damage from the war in the Middle East hits Britain. With less than a week before John Healey’s first budget, the latest barometer from the data company GfK indicated confidence plunged by 11 percentage points in October to -24 amid pressure on consumers from the rising cost of living. Continue reading...

Read it at The Guardian (World) ↗

← Front page