UK consumer confidence September: -20 (vs. -13 expected). Lowest since March 2024.

UK GfK Consumer Confidence September 2024 is disappointing, turns even more deeply pessimistic.

Comes in at a six-month
low of -20 in September, a seven point drop from August

• expected -13, prior -13
• August’s -13 was the (joint) best in nearly three years

GfK comments:

• households appeared to be responding to the messages from PM Starmer
  about the need for a “painful” budget due at the end of next
  month and the announcement of some early cost-cutting measures
• “Following the withdrawal of the winter fuel payments, and
  clear warnings of further difficult decisions to come on tax,
  spending and welfare, consumers are nervously awaiting the
  Budget decisions on October 30”

This article was written by Eamonn Sheridan at www.forexlive.com.