UK Consumer Confidence Declines in November

Consumer confidence has declined in both Turkey and the UK, with Turkey's index dropping 1% to 79.8, marking the first decrease in four months. In the UK, the S&P Global consumer sentiment index fell from 47.3 to 46.9 in November, reflecting deteriorating financial outlooks and increased pessimism among households, despite a strong labour market. Factors contributing to the decline in the UK include rising taxes from the budget, which are expected to impact wage growth and consumer spending negatively. Although job security has improved, concerns about future employment and household financial conditions have created a sense of unease. This downward trend in consumer sentiment indicates potential challenges for economic growth as spending and savings are squeezed. Both countries may face ongoing pressure on household finances that could further dampen consumer confidence into 2025.