|
Consumer sentiment in the UK was little changed in July, data published by S&P Global showed Monday. The S&P Global UK consumer sentiment index edged up to 45.1 points in July from 45.0 in June. Getting closer to the neutral 50-point mark separating growth from contraction, it indicates the deterioration in consumer sentiment slowed in July. Maryam Baluch, economist at S&P Global Market Intelligence, said: ‘July marked another month of pessimism among UK households, with the current financial situation deteriorating further. That said, there was an easing of concerns regarding the year ahead. ‘The labour market also offered some reassurance, with job security returning and work activity increasing at a sharper pace. However, the growth rate of income from employment slowed to a four-month low.’ She added that debt levels surged, speeding up at the fastest pace since last April. Baluch continued: ‘As the year progresses, external challenges are likely to contribute to ongoing uncertainty for households. Nevertheless, declining borrowing costs and sustained income growth may help alleviate some financial pressures.’ S&P Global highlighted that UK households expected their financial situation to worsen, although the extent to which financial wellbeing is anticipated to deteriorate was the least pronounced in seven months. Further, UK households have recorded positive labour market sentiment every month over the last two years, with July indicating a ‘solid’ and stronger improvement, it added. The survey is based on monthly responses from approximately 1,500 individuals in the UK, with data collected by Ipsos MORI from its panel of respondents aged 18-64. The responses were collected between July 10 and 14. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
