UK consumer confidence continues to fall as Budget looms

On par with March levels

UK consumer confidence continued to tick lower in October, with consumers in a “despondent mood” ahead of Chancellor Rachel Reeves' Autumn Budget next week.

The GfK Consumer Confidence index fell to -21 this month, down from -20 in September, and eight points lower than the levels recorded in August (-13). The largest decline came from concerns regarding the general economic situation over the last year, which depreciated by five points to -42 in October. UK consumer confidence falls sharply ahead of Autumn Budget But despite the fall, consumer perceptions of the UK's economic performance over the past year have significantly improved since October last year, when this figure was -54. In addition, people's expectations about the gen...