UK Shoppers Turn More Gloomy Ahead of Christmas
U.K. consumers' mood soured again in November as Britons turned more pessimistic about the country's economic situation as well as their own finances, a survey published Thursday indicated, potentially signaling further trouble for Britain's domestic-driven economy.
The long-running barometer of consumer confidence, conducted by market researcher GfK U.K. Ltd. for the European Union's executive, dropped by two points in November and stood at minus 12. This follows a one-point decrease the previous month.
The survey indicated a decline in consumer views of the U.K.'s economic position and personal finance looking back on the last 12 months, as well as ahead.
It also detailed a significant drop in consumers' willingness to commit to big-ticket purchases, signaling that the ongoing living-standards squeeze--evident since last year's Brexit vote--is giving shoppers pause.
"The confidence trajectory is unquestionably negative and sadly no amount of tinsel or baubles will change it," Joe Staton, head of market dynamics at GfK, said.
The U.K. economy already slowed visibly this year, as accelerating inflation and meager wage growth squeezed Britons' wallets.
Write to Wiktor Szary at Wiktor.Szary@wsj.com
(END) Dow Jones Newswires
November 29, 2017 19:15 ET (00:15 GMT)