[London 26th Reuters]-The consumer confidence index in September, released by research firm Yugab and the Economic Business Research Center (CEBR), fell to a low level for the first time in six years. In addition to concerns over employment security, there is a growing concern about the impact of trade friction and uncertain political conditions on households.
The consumer confidence index was 103.4, down from 104.0 in August. The lowest since May 2013.
“It is now clear that the UK economy has turned to a slowdown due to the uncertain domestic political situation and the headwind of the global economy,” said Mr. Kay Noufeld, head of the CEBR macroeconomic sector.
The UK economy experienced unexpected negative growth in the April-June period. The Bank of England and other economists expect moderate growth in the July-September period, while there is still a real risk of leaving the European Union without an agreement on October 31 .