UK consumer confidence plunges in November, raising holiday retail risks
British households turned markedly more pessimistic in November, with consumer confidence registering its steepest monthly fall since April. The latest BRC–Opinium survey signals weaker demand ahead of the crucial holiday trading period, adding pressure to retailers and other discretionary sectors.
Expectations for the UK economy over the next three months fell to –44% from –35% in October, the lowest level since April. Views on personal finances also deteriorated, slipping to –16% from –11%. The British Retail Consortium said the drop reflects tighter household budgets and uncertainty after signals of possible income‑tax increases—measures that now appear to be on hold. As Christmas approaches, shoppers are expected to rein in non‑food purchases and broader discretionary spending.
The survey period followed earlier U.S. tariff announcements that had already dampened sentiment this year. Market attention now turns to Finance Minister Rachel Reeves, who is set to deliver the UK budget on November 26, with households and retailers watching closely for measures to support consumer spending and stabilize the economic outlook.
Key Points – UK consumer confidence saw its sharpest monthly decline since April. – BRC–Opinium survey: economic expectations fell to –44% (from –35%); personal finance outlook dropped to –16% (from –11%). – Household budget strain and uncertainty around potential income‑tax changes weighed on sentiment. – Shoppers plan to cut non‑food and discretionary spending heading into Christmas. – Earlier U.S. tariff moves continued to cloud the mood. – All eyes are on the November 26 UK budget from Finance Minister Rachel Reeves for potential consumer support.
