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2w ago

Consumer Confidence Slips in UK and U.S. as Big‑Ticket Buying Cools

Surveys point to tighter household spending driven by persistent price fatigue.

People shop on Oxford Street in London, Britain April 10, 2023. REUTERS/Anna Gordon
Shoppers walk along Regent Street in London, Britain December 27, 2023. REUTERS/Hollie Adams
Military jets fly over the White House as President Donald Trump welcomes Saudi Arabia’s Crown Prince Mohammed bin Salman, Tuesday, Nov. 18, 2025, in Washington. (AP Photo/Mark Schiefelbein)
Christmas displays tempt shoppers in Regent Street, London, but consumers seem reluctant to spend without knowing what the budget has in store

Overview

  • GfK’s UK consumer confidence index fell to -19 in November, with all five sub-measures down and the major-purchase gauge dropping three points.
  • UK retail sales declined 1.1% in October, signaling a softer start to the crucial Black Friday and Christmas trading period.
  • Pre‑Budget uncertainty has weighed on UK households, with analysts cited by Reuters saying the government may need to raise £20–30 billion, including options such as extending personal tax threshold freezes reported at £8–10 billion.
  • The University of Michigan’s final November U.S. sentiment reading was 51, near historic lows, as consumers reported strained finances and weaker buying conditions for big-ticket items.
  • Year‑ahead U.S. inflation expectations edged down to 4.5%, according to the Michigan survey, which was conducted Nov. 3–17; GfK’s UK poll surveyed 2,003 people from Oct. 30–Nov. 14.