UK consumer confidence plunges 11 points to -24, fastest drop since Covid

GfK data shows UK consumer confidence fell 11 points to -24 in October, the steepest decline outside the pandemic since the 2016 Brexit vote, driven by cost-of-living pressures and economic fallout from the Middle East war. The drop comes a week before the chancellor's first budget, adding fiscal and political pressure. The magnitude of the decline signals a sharp deterioration in household sentiment, though the full economic impact remains uncertain.

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