UK public confidence declines as households prepare for harsh budget announcements

Public confidence in the UK has declined across all metrics as households prepare for potentially harsh budget announcements. The GfK consumer confidence index has dipped to -19 from -17 in October, with declines seen in all five categories, from overall economic outlook to spending plans. Neil Bellamy, GfK’s consumer insights director, has said the confidence outlook is “bleak” ahead of the government’s forthcoming budget. He said, “A fall across all five measures suggests the public is bracing for difficult news, with little in the current climate to lift expectations.” Brexit has had nearly twice forecast impact on UK economy Personal and general economic confidence each declined by two points, but the outlook for personal finance is two points higher than it was last November. The general economic outlook for the next year has declined by six points since last November, to -32. GfK also reported that the major purchase index,...

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