British consumer morale edged lower in February as rising inflation following last year’s Brexit vote made householders warier about the outlook for their finances, surveys showed.
Two separate reports conducted by market research firms GfK and pollster YouGov pointed to increased financial pressure on households in the year ahead. That added to signs that consumer spending – the driving force behind Britain’s economy over the last few years – is starting to wilt as price pressures mount.
GfK’s monthly consumer sentiment index dipped to -6 from -5 in January, in line with forecasts in a Reuters poll of economists. For a second month running, Britons became less enthusiastic about splashing out on major purchases.
DAX – Steady Ahead of Trump Congress Address
Watching USD/JPY for the Dollar’s Next Move
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.