CONSUMER confidence in the UK tumbled in November, according to European Commission (EC) data released yesterday.
The indicator dropped to an 18-month low of -18.4. The news comes as a surprise after recent figures showed a boom in retail sales shooting upwards.
The EC findings were “undoubtedly the consequence” of the coalition’s spending review, according to Howard Archer of IHS Global Insight.
“Consumers are worried about how they could personally be affected by the cuts,” he said.