UK Consumers Least Confident in over a Year on Economic Uncertainties

British consumer morale fell to its lowest in over a year in February as concerns over the economic outlook hurt sentiment, a survey showed on Friday.

Market research firm GfK said its overall consumer sentiment indicator fell to 0 in February from +4 in January – its lowest since December 2014.

Britain’s economy leaned heavily on consumer spending drive its growth in the last three months of 2015, according to official figures on Thursday.

Bank of England policymakers are watching for signs that a darkening global economic outlook and an imminent referendum on Britain’s membership of the European Union are weighing on households.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.