UK Consumer Confidence Posts Sharpest Drop Since Start of Covid
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UK consumer confidence fell the most since the start of the coronavirus pandemic as cash-strapped households felt the impact of persistent inflation and higher interest rates.
GfK Ltd. said its gage of consumer sentiment declined 9 points to minus 30 in October. The drop was the largest since April 2020, which captured the period when the UK started its first Covid lockdown. It’s comparable to the dip experienced after the UK voted to leave the European Union in 2016.