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UK Consumer Confidence Dips as Retail Sales Defy Expectations, FTSE Muted
UK Consumer Confidence Dips as Retail Sales Defy Expectations, FTSE Muted
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UK consumer confidence slumped to -23 in June, hitting its lowest level since December 2023 amid financial market turbulence and rising energy costs. The GfK survey’s sharper-than-expected decline contrasts with unexpectedly strong retail sales, which rose 0.5% month-over-month against projections of a contraction.
The FTSE 100 erased early gains following the confidence data, closing 0.18% lower while continental indices advanced. Bank of England policymakers signaled growing concerns about economic resilience, flagging potential shocks from US trade policies and hinting at possible monetary easing.
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