UK consumer confidence edged lower in July, with GfK’s index falling to -19 from June’s -18, reflecting growing caution among households.
- The dip, though modest, suggests rising anxiety ahead of potential tax hikes in the upcoming autumn budget.
- The reading was slightly better than economists’ forecast of -20.
GfK’s Neil Bellamy noted the data indicates some consumers are anticipating “stormy conditions ahead,” driven by concerns over rising inflation and fiscal tightening:
- the savings index jumped 7 points to +34, its highest level since late 2007, as Britons increased their savings buffers.
This article was written by Eamonn Sheridan at investinglive.com.