UK consumer confidence slipped in September, with the GfK index falling to -19 from -17 in August, missing the Reuters poll forecast of -18:
All five measures of confidence declined, while a separate gauge of savings intentions dropped sharply. Economic sentiment about the outlook remains weak at -32.GfK warned that expectations of tax increases in Finance Minister Rachel Reeves’ November budget could drag confidence down further. Reeves is set to raise taxes on November 26 to stay on track with budget targets, following last year’s increase in employer social security contributions.
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Softer confidence and looming fiscal tightening add downside pressure on GBP
Weaker sentiment reinforces expectations for cautious BoE policy; modest support for bonds (gilts)
For equities, consumer-facing sectors could face headwinds if tax hikes further dampen spending.
This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about uk consumer confidence slips on tax fears outlook deepens gloom was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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