Consumer confidence has hit a four-month low as Brits brace for tax hikes, according to S&P Global’s latest Consumer Sentiment Index. ‘Working people’s’ confidence sank deeper into sub-50 contraction territory to 45.2 in November. Households recorded the highest level of pessimism regarding their financial outlook in 8 months, while household spending has also retracted…
Economist Maryam Baluch of S&P Global said:
“Consumer confidence has deteriorated across the UK ahead of the upcoming Budget. Households are the most pessimistic in four months in November, signalling intensifying concerns over their current finances and their future financial wellbeing. As we approach the Autumn Budget, a sense of unease permeates across UK households.”
This lands concurrently with reports showing that brits plan to spend far less on Christmas retail staples and treats. Has Reeves killed Christmas…
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