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A long-running measure of consumer confidence has confirmed that UK households are losing faith in the ability of the economy and their own finances to grow since the Middle East conflict began.
Amid forecasts of a jump in inflation as Brent crude prices remained above $100 a barrel, GfK said its confidence index was down two points to -21 in March – the weakest level since Donald Trump announced sweeping import tariffs in April last year. At the time, the index sank to -23.
“A ripple of fear is spreading as is evident from the six-point fall in perceptions of the general economic situation over the next 12 months.”
Continue reading…Rolling coverage of the latest economic and financial newsMiddle East crisis live: Trump pausing strikes on Iran energy sites; Houthis say ‘no reason’ to halt Red Sea shippingA long-running measure of consumer confidence has confirmed that UK households are losing faith in the ability of the economy and their own finances to grow since the Middle East conflict began.Amid forecasts of a jump in inflation as Brent crude prices remained above $100 a barrel, GfK said its confidence index was down two points to -21 in March – the weakest level since Donald Trump announced sweeping import tariffs in April last year. At the time, the index sank to -23.“A ripple of fear is spreading as is evident from the six-point fall in perceptions of the general economic situation over the next 12 months.” Continue reading…