UK Consumer Confidence Drops, Retail Sales Falter

0:00On March 27, UK consumer confidence slipped in March, according to research firm GFK. Their barometer points to rising doubts about the economy over the next 12 months. The main index dropped two points to minus 21, while year ahead expectations fell six points to minus 37. This follows a 0.4% drop in retail sales for February from the Office for National Statistics. Supermarket sales pulled back from January highs. At weather hit household goods, and all my retailers saw lower volumes as shoppers chased earlier, deals. Experts know growing unease tied to Middle East tensions, with fears the economy cannot handle the fallout. Analysts call the sales dip modest, but warn it sets a fragile foundation amid higher freight and energy costs. Households now show less interest in big ticket items like furniture and electronics, turning instead towards saving amid the uncertainty. As confidence weakens in spending plans falter, retailers brace for a tougher stretch

1:01ahead in the UK market.