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Consumer confidence slips in September

British consumer confidence edged down in September as shoppers became more cautious about the outlook for the general economy over the next 12 months.

According to the GfK Consumer Confidence Index, morale slipped to -1 from +1 in August, which matched June’s nine-year high.

Nick Moon, GfK’s managing director for social research, said the index was likely to stay at this level as wage growth remains weak.

“Many people are not feeling any better off despite the growth in GDP, and this may be tempering the impact of positive media coverage of the economy,” he said.

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