Weaker Pound Chipping Away at Consumer Confidence

British consumers turned less optimistic this month as sterling’s slump began to eat into their disposable income, according to two surveys on Friday which will raise concerns about the strength of future spending growth.

Britain’s economy has performed better than most forecasts since June’s referendum decision to leave the European Union, in large part thanks to strong consumer spending.

But finance minister Philip Hammond warned on Thursday that did not mean the economy would dodge a slowdown next year.

Reuters

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