Figures show ‘alarming’ drop in UK consumer confidence over last year
https://www.lbc.co.uk/article/figures-show-alarming-drop-uk-consumer-confidence-5Hjd9WJ_2/
Posted by tylerthe-theatre
Figures show ‘alarming’ drop in UK consumer confidence over last year
https://www.lbc.co.uk/article/figures-show-alarming-drop-uk-consumer-confidence-5Hjd9WJ_2/
Posted by tylerthe-theatre
17 Comments
probably
my bills take more and more of my paycheque every month and now rachel from accounts wants to take even more
>When Labour took office in July 2024, pay was rising at well over 5% a year — comfortably outstripping inflation of 2.2%. However, the gap is fast narrowing, with economists predicting it will all but disappear this year as a fresh spike in consumer prices coincides with a cooling labor market. – Bloomberg.
Rough times ahead
Edit: I’m at -5 so perhaps I am wrong.
Probably because the bills have gone up massively wages have gone up but not really enough. Now they are taking more money then for the past 80 odd years and nothing at all to show for it. Other than a bogus deal because a court found that we don’t have a rightful claim to some islands even the US didn’t entertain the idea and didn’t recognise it.
There’s an extremely good reason why those that can and/or are broad minded enough to move overseas and make an actual living have always done so.
Weather’s better plus less overall ‘tax’ on actual income.
I earn near 70k and save next to nothing.
It isn’t confidence, it is absolute harsh reality slapping us all in the face with the power of a hungover grizzly as you play Saxophone.
Maybe no one can afford to buy the random shit that a lot shops sells no more
no one has any money to spend, i live on a seaside town, the traders are all saying how bad it has been despite the hot weather.
The statistics on confidence seems confused. Compare this report from ‘Which’ –
*”Confidence has tumbled by 31 points over the last year, from an average of minus nine between May and July 2024 to an average of minus 40 between May and July this year, Which?’s Consumer Insight Tracker shows.”*
Against this – [https://uk.finance.yahoo.com/news/uk-consumer-sentiment-recovers-strongest-095504150.html](https://uk.finance.yahoo.com/news/uk-consumer-sentiment-recovers-strongest-095504150.html)
*”Sentiment among UK consumers recovered to its strongest level since before the autumn budget last year, according to new figures. The latest monthly S&P Global UK Consumer Sentiment Index found that surveyed consumers were still relatively downbeat but saw sentiment move higher after the latest cut to interest rates.”*
Although I agree with Which’s comment that –
*“People are sick to the teeth of having to dodge fraudsters when shopping online, watching out for rogue traders when making home improvements and needing to keep an eye out for dodgy pricing practices which mean that offers aren’t as good as they first appear.*
I also think that there are many more things to spend money on that are considered ‘standard’ now- days. This isn’t about cutting back on ‘avocado on toast and you could afford your mortgage’, but things like councils charging for green waste collection that used to be free, multiple streaming services meaning it is easy to find yourself spending £50 or more a month on subscriptions without really noticing it. So many businesses (and public bodies) seem to want to ‘nickel and dime’ you – have lots of little charges for things. Often you can’t just buy software now, you have to rent it, of course with price rises each year.
Can’t afford to move back out of parents since covid redundancy forced me home. Full time work, 38, single, exhausted and can’t afford to even move out.
Customer Service sucks, so anything you do purchase often there’s a problem and it takes more time to resolve/refund.
Not enough money cause everything costs too much.
How come during covid so much money was saved as people didn’t use petrol or commute, limited items when shopping…
Supermarkets made billions…
How come that money hasn’t been put back in to lower prices?
This country is shite.
I don’t remember the last time I went shopping retail other than groceries. Everything I’ve bought in the last couple years has been second hand.
Everyone is fucking skint is why.
Huge swathes of the country are lucky if they can pay all their bills, let alone have disposable income.
I count myself very lucky I managed to buy my home 5 years ago (even if my remortgage did just mean it went up £250 a month to stand still last year). I can’t imagine how hellish the rental market is for so many.
I don’t know how many are surviving, well I guess they probably aren’t.
Government: “First they’re not buying houses, then they’re not having kids, now this? Surely they can work a 5th job to earn the money? Now if you’ll excuse me I’m late for a dinner party on my private yacht.”
Money is tight and everything is flooded with scammers these days. Why would I risk the little money I have on something that has a high chance of being awful quality or never showing up?
Labour promised to end austerity and cut bills, but increased both instead. Small wonder people lack confidence in their own future.
Every media outlet keeps telling us everything is fucked, will continue to be fucked and then we will all be fucked some more.
It’s not confidence, it’s just having no money to spend.
While friends on larger salaries are tightening their belts, those on less like me are just skipping car maintainance, skipping meals, not dating. Literally just work exercise bed 7 days a week.
You call it ‘consumer confidence’, what an interesting turn of phrase. I call it being ripped off by utility companies showing record profits and/or astronomical bonuses whilst I the government watches and does nothing. I actually hope it all
goes to hell at this point.