UK marks biggest fall in consumer confidence since Ukraine war began, research says

"The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story."

"The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it. Your support makes all the difference."

"British consumer confidence has seen the sharpest quarterly decline since the onset of the war in Ukraine, a new report suggests, as the Iran conflict continues to cause financial concern for Britons. The decline in consumer sentiment, which indicates how likely people are to spend or save in the future, is coupled with concerns around a fresh cost of living crisis as uncertainty remains around the full impact the Iran war will have on food and energy costs."

"Optimism dropped from -1 to -13, the biggest quarterly fall since June 2022. The sentiment index is now at its lowest level since the September 2023 recession, indicating that people will cut back on spending. The firm said confidence in household finances was down across all age groups, although young people remained more optimistic than the older generation."

The Independent describes its reporting focus on major issues including reproductive rights, climate change, and Big Tech, emphasizing fact-checking over messaging and avoiding paywalls. It also states that donations support sending journalists to speak to multiple sides and that its reporting is trusted across political groups. A separate report notes that British consumer confidence declined the most in a quarter since the war in Ukraine began. The decline is linked to financial concerns from the Iran conflict and fears of a renewed cost-of-living crisis. A PwC survey of more than 2,000 consumers after the Easter bank holiday found optimism dropped from -1 to -13, the lowest since the September 2023 recession, suggesting people will cut back on spending. Household finances confidence fell across all age groups, with young people still more optimistic than older people.

Read at www.independent.co.uk