Shoppers’ morale sinks to 5-year low

CONSUMER confidence has fallen ahead of the crucial Christmas trading period in a blow to the struggling High Street.

Some 28pc of consumers think their disposable income will fall and 21pc think they will have more to spend over the next 12 months, according to PwC. That was the gloomiest assessment since April 2014 and raised fears for Christmas.

Lisa Hooker, consumer markets leader at PwC, said: ‘British consumers are still more positive about their personal prospects than immediately after the EU referendum.

‘However, there has been a staggering 25-point decline amongst under 25-year-olds, at a time of year when we have historically seen a bounce in sentiment in this age group.’

PwC surveyed 2,000 adults in September.