Britain has suffered an ‘extraordinary collapse’ in consumer confidence as Trumpflation wipes away hopes of a ‘Burnham bounce’.
Closely-watched figures from market researchers GfK showed confidence has suffered its sharpest drop for a decade this month in what was described as an ‘alarming’ deterioration.
The fall of 11 points to minus 24 in October was the biggest since July 2016 – excluding the pandemic – according to GfK.
Household gloom has deepened particularly over the outlook for the economy. Consumer appetite to make major purchases – such as washing machines and sofas – also slumped.
It comes as Donald Trump’s Iran war continues to
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