US EditionBudget 2025: Consumer confidence falls as speculation ramps up but London mayor welcomes major rail investment
Consumer confidence dropped to minus 44 amid tax hike fears, while grocery spending is set to reach its highest level since 2024 due to inflation and Christmas preparations.
- This month, BRC and Opinium data show consumer expectations for the economy over three months fell to minus 44, down from minus 35 in October after a tumultuous Budget speculation.
- Amid Budget speculation, government signals on tax policy sharpened public unease as strong hints earlier this month of income tax rises heightened concern and Sir Keir Starmer refused to rule out freezing income tax thresholds, which the Conservatives call a `tax rise by stealth`.
- Households said they expect grocery spending to reach its highest level since 2024 as Christmas nears, and Helen Dickinson called on the Chancellor Rachel Reeves to act on rising costs.
- Next week the Chancellor faces pressure to restore confidence with the Budget, needing a few rabbits from the Budget hat after a planned income tax rise was scrapped last week.
- Rising job postings coexist with warnings the jobs recovery remains `fragile` as the Recruitment and Employment Confederation reported 754,359 new adverts last month, up 2.1%, totaling more than 1.6 million.
11 Articles
11 Articles
Budget 2025: Consumer confidence falls as speculation ramps up - but London mayor welcomes major rail investment
Two sets of figures out this morning paint a mixed picture for Rachel Reeves, with public confidence in their own spending down but signs of some recovery in the jobs market. Meanwhile, Sir Sadiq Khan welcomes reports of investment in London's DLR.
Consumer confidence tumbles amid ‘tumultuous’ build-up to Budget
Consumer expectations for the state of the economy over the next three months have fallen significantly, according to data from the BRC and Opinium. Consumer confidence has tumbled following a “tumultuous” month of Budget speculation, figures show. Consumer expectations for the state of the economy over the next three months have fallen significantly to minus 44, down from minus 35 in October, according to data from the British Retail Consortium…
Household confidence slumps as Budget uncertainty fuels financial anxiety
British households' financial confidence has fallen to its lowest point in four months, according to new data showing increasing anxiety over personal finances. The decline comes amid widespread speculation about possible tax changes in the upcoming Budget.S&P Global's consumer sentiment tracker for the UK recorded a marked deterioration in November. It marked the weakest reading since March. TRENDING Stories Videos Your Say The index, which as…
Consumer confidence drops amid economy concerns
Consumer confidence fell in November, as expectations for the economy over the next three months nosedived. Expectations over the state of the economy dropped to -44 in November, from -35 in October, according to the latest BRC-Opinium data. Consumer expectations regarding their personal financial situation worsened to -16 from -11 the month before, while predictions for their personal spending on retail dropped to +8 from +14 in October. Expect…
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