Lowest-Earning Britons' Confidence Plunges in May as Iran Energy Shock Squeezes Budgets
Updated
Updated · Bloomberg · May 21
Lowest-Earning Britons' Confidence Plunges in May as Iran Energy Shock Squeezes Budgets
5 articles · Updated · Bloomberg · May 21
Lowest-earning Britons saw confidence plunge in May, while even average earners began drawing on savings to cover everyday costs, according to GfK.
GfK said its headline consumer-confidence measure improved modestly, but that gain masked a widening split as the Iran-linked energy shock entered its third month.
Higher-income households were the main group taking the disruption in stride, underscoring how rising energy costs are hitting lower-income budgets far harder.
The survey points to a two-speed UK consumer outlook, with spending pressure concentrated among poorer households even as the overall gauge appears steadier.
As a new energy crisis hits Britain, can its broken market be fixed before millions face a winter of hardship?
The Iran energy shock is rattling global markets. Is this the crisis that finally challenges the US dollar's financial dominance?