Consumer confidence falls ‘significantly’ amid UK finances negativity
Confidence in the state of the economy has dropped to minus 21, down from minus eight in August, according to the BRC-Opinium survey.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Consumer confidence has fallen significantly amid negativity surrounding the state of the UK’s finances, according to a poll for the British Retail Consortium (BRC).
Consumers’ expectations for their personal finances over the next three months has dropped to a score of minus six from positive one just a month ago, according to the BRC-Opinium Consumer Sentiment Monitor poll of 2,000 UK adults.
Confidence in the state of the economy has also worsened significantly to minus 21, down from minus eight in August.
However confidence in personal spending on retail improved one point to minus eight, despite confidence in personal savings falling five points to minus nine.
The BRC, which has made the monitor public for the first time this month – and will continue to publish it, said consumer confidence appeared to be falling ahead of next month’s autumn Budget.
BRC chief executive Helen Dickinson said: “Retailers could face a turbulent few months as consumer confidence fell significantly in September.
“Negative publicity surrounding the state of the UK’s finances appears to have damaged confidence in the economic outlook, particularly among older generations.
“Despite this, expectations for future retail spending, while negative, did not yet appear to have been adversely affected, with many consumers expecting to reduce the amount they save instead.”