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Financial News: UK Consumer Confidence Slides In June - GfK

UK Consumer Confidence Slides In June - GfK

06/29/2017 - 19:35:00 (RTTNews)

(RTTNews) - Consumer confidence in the United Kingdom tumbled in June, the latest survey from GfK showed on Friday with an index score of -10.

That missed expectations for -7 and was down from -5 in the previous month.

It's also the lowest reading in 11 months.

"Strong consumer spending has propped up the economy since last June but now the twin pressures of higher prices and sluggish wage growth are squeezing household finances and adding to widespread fears of a Brexit-induced economic slowdown," Joe Staton, head of market dynamics at GfK, said.

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