BRC Says UK Consumer Confidence Falls as Winter Energy Bills Loom
Consumer expectations for the economy over the next three months fell to minus 34, the British Retail Consortium-Opinium monitor found.
- Consumer confidence stumbled this month after four months of improvement, according to the British Retail Consortium, with the BRC-Opinium Consumer Sentiment Monitor signaling a sharp decline as households brace for winter.
- Expectations for the economy over the next three months worsened to minus 34, down from minus 28 in August, while confidence in personal finances fell to minus 15, down from minus nine.
- BRC chief executive Helen Dickinson noted the decline was sharper among women, as households face a sharp rise in energy costs this winter, causing retail spending expectations to fall despite overall spending plateauing.
- Retailers face a "triple blow" from escalating employment costs, energy bills, and business rates; the BRC warned the Chancellor must not compound these pressures in the upcoming Budget.
- Government officials face calls to prioritize bringing down the cost of living by freezing the business rates multiplier, a move designed to prevent a tax increase and help retail hold prices down.
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Healey urged to cut business costs as consumer confidence slips
Retailers have called on John Healey to slash the “burdensome” costs of doing business at the Budget next month, warning that consumer confidence will continue to stumble without urgent action. The British Retail Consortium (BRC), which represents top retailers like Tesco, Sainsbury’s and Marks and Spencer, has urged the Chancellor to tackle the “triple blow” [...]
Evening Standard
Consumer confidence stumbles amid warnings Budget must provide reassurance
Consumer expectations for the economy over the next three months fell from minus 28 to minus 34 this month, according to the BRC and Opinium.
Consumer confidence falls ahead of Autumn Budget
BRC-Opinium data, based on research conducted between 8 and 11 September, showed consumer expectations for the state of the economy over the next three Consumer confidence in the UK economy fell in September following four consecutive months of improvement, with expectations for personal finances and retail spending also weakening, new data from the British Retail Consortium (BRC) has found.
Budget must bolster wavering consumer confidence, says BRC - Big Furniture Group
Consumer confidence in the economy stumbled after four months of improvement, with a similar trend for sentiment around personal finances, says the latest British Retail Consortium (BRC) data. According to BRC-Opinium data, consumer expectations over the next three months show the state of the economy worsened to -34 in September, down from -28 in August. […] The post Budget must bolster wavering consumer confidence, says BRC appeared first on B…
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