U.K. Consumer Confidence Sinks in October as Cost-of-Living Pressures Bite
Consumer confidence in the U.K. dipped in October as the high cost of living meant respondents shied away from big purchases ahead of the key Christmas season.
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According to a survey released on Friday, consumer confidence in the U.K. dropped in October due to the high cost-of-living. This meant that respondents were hesitant about making large purchases before the crucial Christmas season.
According to GfK, a consumer research firm, the confidence index of British consumers fell nine points in a month and reached minus 30 for this month.