UK consumer confidence drops to lowest level since Brexit result

Consumer confidence has dipped again this month, hitting its lowest level since the aftermath of the June 2016 Brexit vote and underlining the fragility of the household sector as a driver of GDP growth.
The GfK Index came in at -12 in November, down from -10 in October.
There was a big drop in the index in the immediate wake of the referendum but it bounced back rapidly as the political scene stabilised.
However, the index has been on a broadly declining trend since September 2016, as inflation, stemming from the record slump in sterling on the night of the vote, has bitten into real wages.
“The confidence trajectory is unquestionably negative and sadly no amount of tinsel or baubles will change it. We need some big, positive economic good tidings to reverse this downwards trend,” said Joe Staton, the head of market dynamics at GfK.
UK consumer confidence drops to lowest level since Brexit result UK consumer confidence drops to lowest level since Brexit result Reviewed by Alexander Von Stern on 01:09:00 Rating: 5