Consumer Snippets – 21 November 2025

Consumer confidence dips ahead of budget

The November GfK Consumer Confidence Index result for the UK fell by 2 points to -19, below consensus of -18, as households grow increasingly pessimistic about the UK’s economic outlook and the impact of the Autumn Budget on their spending. The Chancellor is expected to raise taxes and cut spending by between £25bn-£30bn, causing a decline in all components of the survey, with the reading for feelings about the general economic situation at present dropping to -43 and spending intentions on big-ticket items sliding 3 points to -15. Forward looking sentiment over the general economic situation over the next 12 months also fell 2 points to -32. This presents a bleak outlook as households are tightening their budgets just as many consumer businesses head into their most important trading periods.