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.