British consumer confidence experienced its sharpest decline outside of the COVID-19 pandemic since the 2016 Brexit referendum, dropping by 11 percentage points to hit -24 in October. Data firm GfK attributed the steep fall to intensifying cost-of-living pressures and economic fallout stemming from the escalating conflict in the Middle East.
The slump in sentiment arrives just under a week before John Healey is set to deliver the upcoming budget, compounding financial pressures on the chancellor. Additional details are expected to emerge as the story develops.
