UK Consumer Confidence Hits Three-Month Low Amid Interest Rate Fears

UK consumer confidence has hit its lowest level in three months, as households become increasingly worried about rising interest rates, job security, and living costs.

The S&P Global UK Consumer Sentiment Index fell to 42.7 in September from 42.9 in August, remaining below the 50 mark that separates positive from negative sentiment.

Retail workers were among those reporting the highest level of employment concern, with 53% of respondents expecting the Bank of England to raise interest rates, compared to just 12% who believed rates would fall.

The survey found that consumers are becoming more reluctant to make expensive purchases such as holidays, cars, and household appliances due to concerns over their finances.