UK Economy Feels the Strain

  • Consumer confidence drops to -9% in Q3 2019
  • Brexit uncertainty continues to impact consumer sentiment
  • Confidence in UK economy weak at -55%
  • Homeowners show increased confidence due to slowest property price growth in six years

The Deloitte consumer confidence index fell to -9% in Q3 2019, one point lower than the previous quarter and two points lower compared to the same period a year ago. This drop brings it back to levels last seen in Q4 2018 and below the long-running average of the Deloitte Consumer Tracker. The uncertainty surrounding Brexit appears to be weighing more heavily on consumers, as indicated by additional data from the survey that shows consumer confidence in the state of the UK economy at -55%. However, homeowners have shown increased confidence due to the slowest property price growth in six years. Deloitte suggests that businesses are focusing on cost control, which may lead to weaker job and wage growth in the coming months.

Factuality Level: 10
Factuality Justification: The article provides accurate information about the Deloitte consumer confidence index, its changes over time, and the impact of Brexit uncertainty on consumer confidence. It also includes relevant data from a survey and quotes from Deloitte to support its claims.
Noise Level: 2
Noise Justification: The article provides relevant information about the Deloitte consumer confidence index and its relation to Brexit uncertainty, but it lacks a comprehensive analysis of long-term trends or possibilities, accountability, intellectual honesty, evidence beyond the index, and actionable insights. It also stays on topic without diving into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: UK economy, property prices, consumer spending, job and wage growth
Financial Rating Justification: The article discusses changes in consumer confidence, which can impact financial markets through consumer spending and economic growth. It also mentions property prices, job and wage growth, which are important factors for the UK economy.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, and the information provided does not indicate any significant impact on society or economy.

Reported publicly: www.retailsector.co.uk