Economics
U.K. Economy Risks Being Dragged Down by Shoppers' Brexit Worry
- Consumer confidence weak as shoppers ‘downbeat’ on outlook
- Housing market ‘subdued,’ savings rate may tick back up
Photographer: Christopher Furlong/Getty Images
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British consumers are worried about prospects for the economy with Brexit on the horizon, and that could spark a shift in behavior that drags even more on growth.
Households have driven expansion for more than a year, but only because they saved less to keep up spending during 2017’s inflation surge. They may be less willing to do so if their concerns about weakening growth -- and their job security -- stay elevated.