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US and UK consumer confidence decline

Updated 3 times since CLSTR started tracking revisions of this situation.

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2026-10-23 10:23 UTC → 2026-10-23 15:21 UTC · added removed

Consumer sentiment in the United States and the United Kingdom has declined due to inflation and rising living costs. In the United States, a New York Federal Reserve survey indicates growing pessimism regarding personal finances, with respondents reporting worse financial positions than the previous year. Concerns include accelerating inflation and high fuel costs. While spending has remained stable, economists warn that income growth is failing to keep pace with costs, which may force households to use credit or savings. In the United Kingdom, S&P Global the downturn has intensified. GfK data shows the consumer confidence has fallen index plunged 11 points to its lowest level -24 in more than three years. This slump is driven by intensifying inflationary pressures and expectations of higher Bank of England interest rates, with approximately 57% of households anticipating a shift toward higher rates. The October, marking its steepest monthly decline has impacted all income brackets, specifically affecting the major purchases index and increasing pessimism regarding since the labor market. Recent data from early stages of the British Retail Consortium (BRC) pandemic and Opinium indicates that UK consumer confidence has now declined for three consecutive months. Economic expectations for the next three months dropped to -40 2016 Brexit vote. This decline coincides with an “extraordinary collapse” in October, while sentiment regarding consumer confidence, as individuals report worsening personal finances fell financial situations and a reduced willingness to -18. BRC Chief Executive Helen Dickinson noted that sentiment regarding personal finances reached make major purchases. Economic pressures in the “second-lowest level on record,” particularly among Gen X UK include inflation reaching 3.5% and Boomers following pension-related announcements. While expectations for personal retail spending rose increased fuel costs linked to +15 geopolitical tensions in October due to the festive season, personal savings declined to -9. Middle East. These factors have impacted retail performance; UK retail sales volumes fell by 0.4% in September, a sharper contraction than the 0.1% drop anticipated by economists. This decline was driven largely by a 0.9% decrease in clothing and footwear sales, alongside a 0.4% dip in supermarket sales. Retailers are currently calling for government action continue to seek relief from Chancellor John Healey in the upcoming Budget to address Budget, specifically regarding rising business costs and tax increases. In September, GfK’s Consumer Confidence Index rose by one point to minus 13, marking three consecutive monthly increases, despite persistent concerns regarding inflation rates and energy prices. However, this recovery was short-lived. employer National Insurance contributions.

Versions

  1. 2026-10-23 15:21 UTC US and UK consumer confidence decline
  2. 2026-10-23 10:23 UTC US and UK consumer confidence decline
  3. 2026-10-22 03:47 UTC US and UK consumer confidence decline
  4. 2026-10-19 11:12 UTC US and UK consumer confidence decline

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