RE: Silly drops23 Jan 2025 10:45
Most UK retail stocks are down, due to latest consumer confidence report...
Despite Labour's pre-election promises of pro-growth, pro-business and other such rhetoric, the Labour Govt has - within 6 months - destroyed the 'green shoots' which promised so much for the UK economy in 2025. The latest update on consumer confidence is as expected: consumer confidence down.
With virtually zero growth, taxes on business, unemployment up, weak GBP, business and consumer confidence down (and many other such economic indicators) - the fact is that the UK is sleepwalking into a recession and all the economisits know it. The BoE needs to take decisive action on 6 February, or the UK economy will fall into recession without a shadow of a doubt. As for Starmer and Reeves: what a pair of absolute political and economic muppets.
23 January 2025:
'Consumer confidence in the British economy has tumbled to a new low amid recession fears.
According to the British Retail Consortium's (BRC) consumer sentiment monitor, expectations for the state of the economy over the next three months have worsened, delivering a reading of minus 34, down from minus 27 in December.
Helen Dickinson, the industry group’s chief executive, said ministers’ pessimism has spread to households.
“On top of this challenging market backdrop, retailers are facing £7bn in additional costs from the Budget and new packaging levy. With retailers’ tight margins leaving little scope to absorb more costs, many are warning of price rises and job cuts in the coming months.” '
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