GRAHAM HISCOTT Outlook grim as woes grow Confidence in economy takes a dip

BRITS are more worried about the future than at any time since last year’s Brexit vote, research has found.

People’s confidence in their own finances, job security and house prices have all fallen.

All eight measures in the index carried out by pollsters Yougov and the Centre for Economics and Business Research (CEBR) declined this month.

Poll results are used to compile an index, with anything above 100 showing there are more people feeling confident about a particular matter than not.

The overall index dropped from 109.3 to 106.6 in November, the lowest since July last year in the aftermath of the referendum to leave the EU.

The reading about people’s confidence in their finances over the next 12 months fell from 94.6 to 89.4. Job security for the year ahead dropped from 111.7 to 110.3.

Christian Jaccarini, from the CEBR, said: “November saw consumer confidence damaged by a range of factors.

“The first interest rate hike in over a decade triggered fears that higher borrowing costs will compound the inflation-induced squeeze on household incomes.

“Simultaneously, higher rates and a housing market in slowdown are warning signals for many homeowners, who fear house price growth may be further dampened.”

A separate survey by Lloyds Bank found 38% of people are worried about the impact Christmas spending will have on their personal finances, and 13% plans to cut back outlay on essentials to fund their festive spending.

The number of households who described their financial state as comfortable dropped last month from 62% to 60%. Oil = $63.12

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