Saturday, January 23, 2021
Urdu Web Newspaper Live-TV(UK) Live-TV(PK)
Urdu Web Newspaper
Live-TV(UK) Live-TV(PK)

UK consumer confidence stuck at six-year low in November

UK consumer confidence stuck at six-year low in November
November 29, 2019
LONDON (Reuters) - British consumer confidence remained stuck at its joint-lowest level since 2013 in November as uncertainty around the December 12 election and Brexit weighed on households, a survey showed on Friday. Market research firm GfK said its consumer confidence index held at -14 in November, as expected in a Reuters poll of economists. The survey looked in line with other indicators that have painted a subdued picture of the British economy, although a seasonally adjusted version of the GfK survey published by the European Commission on Thursday showed a small rise. “In the face of Brexit and election uncertainty, consumers are clearly in a ‘wait-and-see’ mode,” Joe Staton, client strategy director at GfK, said. Spending by consumers has helped the economy at a time when many companies have cut investment due to a lack of clarity about Brexit. Earlier this week, a measure of retail sales rose to its highest level since April in November.