Reuters on the YouGov/Centre for Economics and Business Research consumer confidence measure

  • Consumers the least confident about their current financial situation since December 2014
  • Expectations about their finances over the next 12 months also fell
  • Perceptions of job security were at a four-year low
  • "It looks like this may be the point where the slowing GDP figures start to translate to people's everyday lives," Stephen Harmston, Head of YouGov Reports, said. "The figures indicate that they are starting to experience a downturn."

And, more via Reuters:

  • Confederation of British Industry (quarterly CBI survey) - demand in the services sector was flat in the three months to May
  • "Rising inflation is squeezing household incomes, which is hitting demand in the consumer services sector," Rain Newton-Smith, the CBI's chief economist, said. "At the same time, cost pressures are building across the board, painting a difficult picture for services firms."
  • Firms expect to hire more workers and to continue to invest, the survey showed
  • Optimism among business and professional services firms improved for the first time since November 2015