Economics
U.K. Economic Momentum at Risk as Consumer Confidence Wanes
- GfK, YouGov/Cebr sentiment indexes declined in February
- Reliance on consumption may not be sustainable: Resolution
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U.K. consumer confidence weakened this month as the pound’s slide, rising prices and weak pay growth began to weigh on the powerhouse of Britain’s economy.
GfK’s household-sentiment index fell in February, remaining below zero for a 10th month, and the appetite for making major purchases decreased, indicating that Britons may be starting to rein in spending. A separate gauge by YouGov and the Centre for Economics and Business Research also declined, with an index of job security slumping to the lowest since 2014.