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Consumer confidence drops in November

Consumer confidence fell by three points in November compared with the month before, to -13, as Brexit turns Christmas into a “season of uncertainty”.

There was a decrease across all five measures used by market research firm GfK in its Consumer Confidence Index.

Confidence in personal finances during the last 12 months decreased by four points month on month to -3 in November.

Meanwhile, confidence in the general economic situation of the UK during the past year fell by one point to -29. The major purchase index was down seven points to -3.

Joe Staton, client strategy director at GfK, said: “The next few weeks are highly unlikely to inject any festive cheer, especially if Theresa May’s Brexit deal doesn’t win backing from MPs.

”The denouement to more than two years of bewildering Brexit wheeler-dealing looks like it will be enacted precisely when many consumers would prefer to be thinking of a well-earned Christmas break, filled with family get-togethers, warmth and festivity. Brexit appears to be turning this year’s ‘season of goodwill’ into ‘the season of uncertainty’.”

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