UK consumer confidence fell to its lowest level in more than three years in October, as inflation and fears of higher interest rates weighed on households, according to an S&P Global survey. The index slid for a third straight month to 41.3, the lowest since July 2023, with 57% of households expecting rates to rise. Households across all income brackets expected their finances to worsen, and both private and public sector workers reported weaker current finances, with public sector staff hit harder. Intentions to make big purchases were among the lowest in over three years, and pessimism about the labour market stretched into a fifth consecutive month. Economist Maryam Baluch said the government faces a tough task in setting the upcoming Budget, as the 'Burnham bounce' proved short-lived amid cost-of-living pressures from the Middle East.
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GBP/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 1.33306 |
| Change that session | +0.41% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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