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.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam