Consumer confidence in the UK has sharply declined to its lowest level since the peak of the cost of living crisis, driven by concerns over international events such as US tariffs and the war in Ukraine. According to the consumer group Which?, nearly two-thirds of surveyed individuals expect the economy to worsen, reflecting a broader pessimism. The report details how many households are struggling with essential bill payments, with significant numbers missing payments. The sentiment echoes wider concerns about inflation rates and the impact of rising costs on household finances.
Consumer confidence in the UK has plummeted due to economic pressures, with concerns over global events and personal finances leading to a significant decline in optimism.
According to the survey, nearly two-thirds of individuals believe the economy will worsen, reflecting a widespread pessimism influenced by external geopolitical factors.
Confidence in future household finances has dropped to a record low, indicating growing distress among consumers dealing with rising living costs and economic uncertainty.
The data shows that a significant proportion of households are struggling with essential payments, signaling a direct impact of the cost of living crisis on financial stability.
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