UK consumer confidence slides to 11-month low ahead of Brexit
London — British consumers' confidence fell to its lowest level in almost a year as their view of the economic outlook for the next 12 months sank to its weakest since shortly after 2016's Brexit vote, a survey showed on Thursday. The GfK consumer sentiment index fell to -13 in November from -10 in October, the lowest reading since December 2017 and below economists' average forecast in a Reuters poll. While spending from consumers fuelled robust economic growth in mid-2018, helped by a hot summer and the Fifa World Cup, GfK's report adds to signs the economy is slowing ahead of Britain's exit from the EU in March 2019. Bank of England data earlier on Thursday showed the weakest consumer borrowing growth in more than three years. Earlier in November, Prime Minister Theresa May agreed a Brexit divorce deal in principle with the EU, but she faces broad opposition from MPs in her own party and outside, which has shaken investors' confidence in Britain. All the components in Thursday's ...
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